If you are 100% occupied (and trending) no need to spend money.

Yes you will save some money by self managing but more important you will learn what it takes to manage a property. 

Value your money more. 

It’s a great way to add value to a property without putting a ton of money upfront, and it can set you up for financial success in the long run.Has anyone else done a similar renovation project or used a gift of equity in their deals?

Hey Paul, I've done a few of these with buyers moving money from California to the Detroit market. 

More money going to the IRS. 

His family made their money with W2s and the stock market.

They are very persistent in raising money for their other funds once you’ve invested in one…which makes me further suspicious.   

So I spent money and did not see anything from the inside?

This risk is amplified the less money you have attached to the deal.