Hello, After listening to hundreds of podcast I decided to create an account here :) Right to the point, I currently own a 1 family which has significantly accrued equity within the past 5 years, $200k+.

Out of curiosity, was there any indication as to why any of the property management companies declined any assistance?

The owner is a friend and will carry for 2 years (just in case something goes sideways) @ 7% APR, with $50,000 down, interest can accrue and be paid when the loan is paid off after I refinance. 

@Jason Risley out of curiosity, what does $1.7m buy in your area...

The contractor would be responsible for providing the majority of the labor. upon the sale of the property, I would get re-embursed for the expenses, then the remaining profits would get split somehow. the wages accrued might be subtracted from their cut at the end, and they'd get the remainder of the split at the end.im curious what might be considered as a reasonable portion, given those parameters.

Out of curiosity who is the PM you are planning to use? 

Thank you for the informative advice @Brandon Rush & @Dominick GalinisMy goal is to accrue enough passive income that when my wife and I become empty nesters, I could look at her and say "lets fly to Aruba on Monday".

@Adam Christopher ZaleskiSo just out of curiosity, Adam, how much did this rental property set you back?

Of course I tried to explain how holding onto debt would accrue more debt rather than paying it off now with a debt consolidation refinance and having a perfect credit score by then...

Out of curiosity, what would it matter if it's insured or not?