@Steve K.I would rather goto Vegas and bet on the craps or the slots .

This is why getting a PG when lending to a LLC is important.

Frederick County is 5th day...I forget what PG and Howard are.

In PG county the minimum on the sub $350k ARV properties is usually $30k.

I also purchased two more in PG that are also being renovated as we speak.

No I was not a gambler in the strict sense, I never lost a dime in the slot machines there.

(Montgomery, Fairfax Arlington Counties) Sure prices dropped and bounced back in those areas....but when you go over to PG County, they are nowhere close to having recovered from the market crash while the other areas in general are back to 2006 levels.

Banking on a ton more appreciation is like throwing your money in the slot machine. 

It looks like "average valued" slots in the area are going for 1000-1100.Overall I feel like the CoC for this is a little low considering the initial cash needed.

@Wayne Brooks  with my commercial banks rule of thumb is anyone with 20% or greater needs to be underwritten and qualified and any PG's that the bank may require is signed by anyone with 20% or more ownership interest.I am not an expert of public financing guidelines like this.. good mortgage broker should be able to figure it out..