Would this essentially be considered a secondary lien on the property or is it viewed differently by the bank? 

Our passive investors love the returns we provide and they really don't mind giving up more of the ownership because they see we deserve it.This makes much more sense Michael, using vertical integration to reduce costs essentially is delaying payment to the PM and construction arms until the refinance.

On Foxnews.com this morning there was an article that alerted me of a Tidal Wave of Properties that were going to start popping up on the market: https://www.foxnews.com/lifest...Essentially, what they are alerting to is the fact that as Baby Boomers pass away, they are leaving behind their homes, vacation homes, etc..They expect more than double the properties that came on over the past 10 years to come onto the market. 

Essentially they gave us a pro-forma detailing expected rental rates, financing terms, and sources and uses of project funds.

Either way, just don't forget about it.I ran the numbers I've outlined above and got what essentially becomes a break-even proposition. 

(Essentially Turo, but for houses ;o) 

(All the income is in principle pay down).

And no one would have tolerated them essentially playing basketball in the house. 

With the current rates (near all time low), this would reflect a negative cash flow at the 50% rule, but very near cash neutral if counting the principle paydown. 

I spoke with 3 different representatives at legal zoom, and was told that the Registered Agent service could not be used for the Principle, Mailing or member addresses, plus got inconsistent answers to some of my other probing questions on the subject.