Some charge an origination of 6 points and 1.5% per month which seems to fall in line.

I've researched the property on-line and neither was listed as a prior lender.This all new to me, so any information is helpful.

So many of everyones posts have been a great help already, but you bet, I'm sure I've got lots to ask help on.

I gave them 45 days to move, but there were on a month to month lease Actually they called me asking for 5 more days, so I didn't close till day 52. bottom line, there is nothing they can do really they will have to move sooner or later.

I'm sure many people have done this, but I'll bet that most of them don't fully understand why they are doing it, and many of them are losing money without realizing it.What's USUALLY in the back of their mind when they do this, but is often subconcious, is that they are COUNTING on the house to appreciate and/or rental rates to go up.

I guess one option is for me to live in the last unit for 2 years to get the 250k tax-free bonus, and meanwhile use a equity line against the unit to continue investing.Andy

Not only are you dealing with normal rehab issues for a major project, but then you are also betting on the come.

On similar lines, to post in our dealmaking section, you also need a minimum number of posts.This ensures that our users are at least somewhat familiar with you, and it also ensures that you contribute to the community before making any "personal gains" from the site.I hope you can understand our policies (clearly stated in our forum rules) and ask that you abide by them in the future.Thank you.

Remember, each state establishes it's own reg and exemptions.In the end, I guesss your best bet would be to seek legal advise before pursuing PL for funding your deals.

However I bet money most of them are just looking for a cheap house and aren't investors.I dunno.