So for the first property which will cost over $1 mil to construct, there will be stacked loans, essentially $280K will come from loan assistance program,( the name is not correct but the same idea).

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Quote from @Patricia Steiner: There are several lenders who offer low/no closing cost options for first time homebuyers.

You should only be liable for tax on any appreciation since you inherited the rental (minus the cost of your improvements). 

Baselane, on the other hand, provides everything you need at a reasonable cost and is tailored for smaller landlords like us.

$10K savings to you or higher cost to you? 

. - Both parties share the risks, including market fluctuations, project delays, or unexpected costs. - It’s recommended to have clear agreements outlining each party’s responsibilities, profit-sharing ratios, and exit strategies. 4.

I have found that they worked really well when it comes to getting better tenants and better rents, and having less hassle, less headaches, and then getting a higher sales price; without paying closing costs or realtor fees.

Happy to chat...being a local GC takes out a lot of the risk of the biggest variable for most investors (unpredictable rehab costs) and also allows you to consider more options than the average investor, with your rehab costs being significantly lower.

Co-living will be necessary due to housing cost.