If they are the one providing most of the cash, they might not want to carry that liability, but you've already negotiated with your partners on this and then the bank isn't cool with it, you could be in a pickle.

We didn't because we needed to provide POS in order to obtain our STR permit being that previous owner had a permit on the property already.

While I’m open to both turn-key and fixer-upper properties, my preference leans slightly toward value-add opportunities where I can improve the property and increase equity or cash flow.That said, I’m also happy to consider turn-key options that provide immediate cash flow if they fit within my investment strategy.

Wholesaling can be a great way to learn a market and build capital, but holding rentals can provide steady cash flow and equity growth over time—especially in markets like Detroit, where entry prices are lower and rents are solid relative to costs.If you’d like to learn more about navigating Detroit, feel free to reach out—I’m happy to share some resources or insights from my experience.Best of luck in whichever direction you choose!

I will look into some of the suggestions provided!

@Chris Morris have ALWAYS seen bad "deals" from rookie wholesalers that really don't understand what they are doing to provide value to the industry.It's getting worse because the real estate market has recovered from the 2010 Crash, yet many are still using tactics & methods developed during this time.Everyone in the industry needs to go back and look at what was being done BEFORE 2010 and start using those methods, updating them with current technology.

This service is provided by several authorized 3rd party companies.2024 update: If you file more than 10 1099s, you MUST eFile them now.Here are some of the online 1099 filing companies, and you can easily find others:tax1099.comWageFiling.com1099online.comThese companies charge under $5 per form.

When I was in your exact situation looking for help, they were the only ones that provided solid answers and walked my wife and I through the full transaction.

With time and persistence, it can provide the kind of financial freedom many people only dream of.

I already provide 110 electric and gas for a gas appliance.