VRBO of course has no co-hosting option.

It's one project, that's more hands off and offers great returns. 

I've never asked them to be my mentor and they have never offered.

@Eli Jerman Owning a duplex where you live in one unit and rent out the other offers significant tax benefits but adds complexity.

I know I could have a family member co-sign a mortgage with me but not sure the best way to approach that conversation and what incentives I’d be able to offer to make it worth while for them other then their “familial duties” haha. 

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

Im happy to answer any questions you might have about how I invest in Memphis and I can offer up all of my vendor partners to you as well. 

Whether you’re an investor looking to scale your portfolio or a private lender seeking profitable deals, JVs offer a pathway to shared success.

Our New Equity Based Offering!"

You will need to check with the city/building inspector to determine your options first.