Yup a roof is 15k on a house no matter how much it cost LOL.. there simply is not enough gross income to cover long term cap ex in this space not to mention bad debt etc.

Quote from @Tony Wilcox: If your goal is just to grow cash and not worried about passing down debt to your family, I would say a WL policy is not what you would need.

I am not afraid of debt and to leverage as asset the MF opportunity far outweighs SF and short term rental.  

They get better over time, the longer you own it (debt costs hopefully stays same, rent stays up with inflation, appreciation, depreciation, loan pay down mostly from tenant, & is a little mini savings account).

That way I’ll be able to pay off the private money loan and keep my debt separate.

I'm about to graduate so I do have a general understanding of types of debt instruments, discount rates, and just about most financial terminology.  

I am seeing the same trend with more investors using short-term debt to secure acquisitions while they wait for permanent financing.

What's your other debt looking like?

B and C areas could be between 4-7% and the most desirable areas in and around NYC will likely be below a 4% cap rate.Cap rates are based on NOI and typically don't include debt service so down payment and loan type won't affect calculations.All the best!

They come with quicker settlement timeframe expectations than commercial transactions.