It may sound great that you're using no money of your own, leveraging the property to the limit, but that property's debt may then become a hungry demon.Different measures, different techniques, different purposes.

There is no limit to the number of commercial loans you can have.Mike

I am just trying to be smart about it and increase my cash flow while limiting my time, maintanence, etc...

Well, You now owe them 5K plus interest, plus over the limit fees, (because they will have a monthly fee on top of your finance fees), AND a new APR somewhere around 28.9%.

We are both new to the game, and when I say new I mean really have only limited knowledge.

Also, you may want to check in the future with the County the applicant lived in primarily or all of them just to see if they ever were evicted before.

I've been very active with commercial lenders from my local banks but almost all of them have tightened to a halt or I've reached my limit with them at the moment so I'm having to use them sparingly.

I think you both need better tenants, we just don't have these types of problems very often.I already eliminate 95% of all interested callers/applicants through our screening (most on the phone).

will,from the start i said $300K is my limit...i know the listing broker is not supposed to tell you what the other offers are but most of them will...and part of me doesnt believe him...he called me today and strangely told me that the bank wants both offers and that they might still accep my lower offer, something just doesnt smell right...keep you posted

I'm seeing an increasing number of applicants that are in this situation.My advertising does not change during the year.