@Kyle Nelson, Minnesota has a very strong vacation rental market, and if you get into the right properties, they can be profitable year round.

We have built a very strong track record with our bank and we have a great relationship with them so they financed the purchase and the rehab costs as a construction loan.

The weather factor is something that weighed strongly in my list of negatives about the area but it is still a great place to live and the OKC area is growing.It was also difficult for me to understand the concept of the real estate market in the midwest.

They accepted my offer over others because of strong finances and ability too close, but now are requesting a loan commitment letter even after contract has been signed and earnest money deposited. 

Montgomery County the margins are far too tight for BRRRRing and flipping, however for long term buy and hold, MoCo is great with strong asset price growth and strong rent growth, with a low risk tenant base.

In addition to good cash flow, both markets have strong economic and demographic fundamentals.

However, at this time, ensuring that the portfolios are strongly positioned to weather even the most severe downturn is the prudent decision.We are aware of the fact that this may be a difficult time for some of our investors and want to reiterate that this was not a decision we have taken lightly.

If you're wife gets the FHA 203k loan (not a cake walk in it's own right) and does not actually live in the property, she would be committing mortgage fraud.

If you don't want to get another job again I strongly suggest that your first goal should be to invest in passive income properties that will generate enough income to pay for your living expenses (add 10% safety).

Strong expectations up front can save a TON of headache later, clearly drafted partnership agreement is a must as well.As far as split?