What is your draw fee & benchmarks for the repairs portion of the borrowed money?

Honestly unless you have the funds to buy them out of their portion when the time comes, it is better to sell it.

You filed two full year tax cycles and the numbers are similar (no greater variant than 1%) they maybe yes.Generally depreciation is added back as income BUT only the 40% portion you own not all of it.

The investment portion of 3 units equals their reinvestment target of $600K. 

Depending on where the investment is and how successful that market is doing, I'd tear down a portion and keep Ownership The other part of land to eitherA.

And each former LP (now a tenant in common) can do a 1031 exchange on their portion. 

Refi after construction.These numbers consider only the portion of costs of the HEL attributable to the land purchase, not the payoff of the HELOC (which we took out to buy the Seaside condo).Cash In:                     $66,166 (Cash, 1 year of debt service of HEL, debt service of const. loan, furnishing)Amount Financed:      $548,000 (home equity loan + construction loan + closing costs)Total Cost of build:     $614,166ARV:                               $850,000 (or rather "after construction value")Refi                                $637,500 (75% of value + closing costs)                                        Cash Out                       $89,500New payment             $4500/month (54,000/year)Estimated Cash Flow (pre-tax numbers, so actual mileage may vary)airBNB year 1:            $70,000     (net income $16,000)airBNB year 2:            $100,000   (net income $46,000)airBNB year3+:           $120,000   (net income $66,000)ROI (construction year):    0ROI Year 1 of STR:              24.2% ROI Year 2 of STR:              69.5% ROI Year 3+ of STR:            99.7% Did I calculate these ROI numbers right? 

We have QuickBooks reports going back for 10 years as well that we are posting to this private investors portion of our property management website.

Also, you don’t need a business license just to look at properties, but if you buy a bigger property, like a multi-family unit, you might need a certificate of occupancy, depending on the local rules.For business trips, most expenses can be deductible, but if it’s part personal and part business, you can only deduct the business portion.

(I am looking for private lenders who don't charge interest but rather take a portion of the profit.)I emailed the support desk for a refund.