Using these parts of local zoning can lead to potential deals.  

•Off-market deals: Creative strategies for connecting with potential sellers and standing out in a competitive market.

If I put myself in the shoes of the outside partner/investor friend, I would be very concerned because: 1) unclear and/or potentially conflicting business plan, 2) even with clarity in the BRRRR business plan, unclear in the viability of pulling it off with these market conditions, 3) the chances of dispute seems very high, especially if you're going to live in. 4 years ago, I went through a  similar thought process when purchasing an investing property with mainly my family money, while considering an outside investor to rehab for higher STR ROI... 

Looking at refurbished houses in the area, potential value of the house could be $130-140k range.

I haven't sold yet, I've been analyzing property to get a head start on the 45-day timeline of identifying the potential replacement property (and because I enjoy analyzing property). 

This is not the norm right now, but I do believe over the next several years, we will see more sellers accepting this asset due to its potential and hedge against the deflating dollar. 

You can find tons of cash flowing opportunities here and you get amazing appreciation potential as well.

The Midwest offers good cash flow potential, and Cincinnati stands out for its diverse economy and solid quality of life in an affordable market.I just wanted to share my experience to show that turnkey deals are still possible.

When filing the LLC return, it is important to ensure that these liabilities are accurately reflected on the balance sheet.However, it's essential to note that distributing the refinance proceeds among LLC members could potentially be viewed as a taxable event if there is no intent to repay these amounts to the LLC.

Here's a breakdown of the situation:Current Occupancy: 80% (16/20 units occupied).Current Gross Rent Roll: $14,265/month.Market Rent Potential: $17,665/month (100% occupancy).Renovation Needs: 15 units require full renovation ($10K/unit), 4 units are 75% renovated ($2.5K/unit), totaling $160K in renovation costs.Vacancy Loss: $41,820/year in lost income due to current vacancies.Cap Rate AnalysisThe seller lists the cap rate as 9.59%, but this is based on the projected NOI of $119,858 (assuming full occupancy and market rents).