Consider this scenario: you buy an investment that has a NOI of $50,000 at a 10% cap

In such a scenario, how do I make an offer so that it falls within 90% of the appraisal price.

@Jared Rine,Which lenders do you prefer to work with in this type of scenario?

This is another condo, but the credit union's niche is lending on old mill houses common in Upstate South Carolina which generally sell for less than $75k and often under $50k. 

I would not consider a 15 year amortization and a 5 year balloon a good option because you don't know if you will even be able to refinance that in 5 years when the balloon payment is due.I think a common commercial mortgage would be 15 years fully amortized with 75% LTV at prime + 1% with a 3-5 year rate lock.

Is that the scenario you would like to end up with?

A 2 unit property that we bid a while ago reached out asking if we’d consider the following scenario: tenant in one unit has stopped paying and is not being cooperative with showings.

I will have to say that "vacant units" aren't terribly common around here.

Let's say:PP = $50K (same property)Rehab = $75K (you went over budget)ARV = $150K (didn't appraise as high as you hoped)In this scenario, you don't have 25% equity at the end. 

After hearing the common theme from the podcasts of "you just have to take action," I made it my goal to jump before the end of the month.