If no one within the group has experience buying real estate, I would suggest you each buy a property on your own and then have a discussion of forming a partnership in 2-3 years.If you already have experience within the group, I would suggest all the friends get together over coffee and brainstorm all your concerns.

The majority have had substantial recent price decreases, which seems concerning for long-term property value appreciation.

It used to be covered under a mobile home policy.Flood insurance is required by lenders if the property is located in a flood zone.

To solve this, I built a custom mobile app to handle rent payments and due dates because no other management software can handle the payment schedules or turnover.

Would mobile app access be critical for tenants?

Midtown and Corktown are also seeing growth, though prices are creeping higher.As for the 1% rule, I completely understand your concerns.

My apologies for causing concern around this.

As a result I’m much more concerned with a borrower showing funds for at least a reasonable down payment.A problem with a screen shot of say a buyer’s Vanguard account is that it’s so easy to use PDF tools which can alter the numbers and be virtually undetectable.  

I realize this is a complex concern so just looking for general advice here based on the experiences of others.I would manage bookings and client communications aside from maybe an on call service for at night.

Since you’re concerned about the electric bill, it’s wise to avoid any appearance of a “self-help” eviction.