I’m wondering if you are still happy with pad split?

What you CAN do is partner up with someone experienced and split the deal.

Plus, years down the road, I plan to split my time between SF and Detroit, so this would be a step in that direction.Another major focus for 2025 is a personal project: we recently completed a large ADU build at our primary residence here in California.

The flippers who COULD handle the volume that a flipping fund would allow them to take on, don't need a fund, because often times, anyone flipping at that volume is already making close to 7 figures a year, and wouldn't want to keep splitting it.Alternatively, I, personally, would not invest with a flipper that hasn't done it, a lot.   

I suggested to them we could split the costs 50/50 of installing the electric, the garbage disposal, and the labor for installing it as I would be more comfortable having my guy do it.

They have every incentive to make sure construction is up to standard since they will receive 5-6% (to be split with buyer's agent depending on state) of the sale price in commission.

I know it sounds like I'm splitting hairs but some banks write HELOCs in their residential department....which won't write Investment Properties.

They're good to have open access to capital/cash/equity to a property ahead of time so you can execute a deal or purchase when the time comes on a split second decision (versus having to apply to a loan at that time which might take 20-45 days to get approved/closed/etc plus by that time you dont know what your future income/credit/assets will be like in order to qualify anyway).The second use is sleep at night factor and having a reserve of capital in the event an emergency event occurs in life.For these two reasons is why I use lines of credit.

Here’s what I do with my rentals:I either have tenants split the utility bills or include a clause in the lease that states if the gas or water bill exceeds a specific amount ($X), the tenant will be responsible for the overage, provided there are no leaks or other infrastructure issues contributing to the high usage.To determine this $X amount:Water: I take the highest water bill I’ve had over the past year (excluding periods where leaks occurred) and add about $15 to account for small fluctuations or potential increases.Gas: For gas, I calculate the median bill during the winter (when usage is highest) and the median bill in the summer (when usage is typically lowest).

Split the lot into two lots and built a large 6 bedroom 5 bathroom house on one of the lots.