I collect $375,000 at closing for the real estate, plus the now $35,000  balance owed on the business note. 

We have to find a balance! 

For fix and flips, you record the purchase price and closing costs, renovation costs, holding costs, etc. on the balance sheet as an asset until you sell the property. 

This fee cannot be more than either 10% of the periodic rent or 10% of any remaining balance due.

No one pulled a payoff to confirm the balance or looked at the latest statements before closing? 

I am looking to create a solid, efficient process that balances speed, quality, and budget.

My parents were able to pay off their loan balance with my payment to them. 

This takes a LOT of my time.If I went to get a judgement against this tenant for the balance of the lease (if I could even find them to serve court papers), the judge would tell me to go pound sand, absorb it as a business expense, go re-rent the apartment, move on with my life and quit bothering him with this "nonsense."

This cuts your time involvement dramatically without the designer price tag.Ultimately, the goal is to balance aesthetics with efficiency and cost and it’s very possible with the right system in place!

Are the rates lower on Freddie small balance loans?