What advantage do you think this scenario brings for the seller/borrower?

Hey Lue, very common and sometimes you might see this called a "kiddy condo loan". 

Can you double check my numbers/scenarios here... 

The way you are breaking it down is very spreadsheet-friendly in terms of what would work in a best-case scenario, but landlording for five room hackers is not easy and the rent is not easy to collect in all cases.

If the tenants have a pet, like a dog, it’s worth discussing, as pets are a common source of fleas.

It sounds like this might have been some sort of "creative financing" scenario where the buyer has $0 but is trying to cobble together 3 liens and 8 JV partners to buy something they cant afford.

And once you complete your 1031 exchange you could then do a cash out refi on one of the properties to access the cash you need, and fully take advantage of all the benefits of the 1031 exchange.You just want to be mindful of the time frame requirements in this scenario, but as long as you are proactive it shouldn't be an issue.

People if you truly want to become successful, you seriously need to learn how to use common sense.Now this is me:All these leads are motivated off-market, organic leads.

Otherwise you will dream up the worst scenarios.  

It’s unfortunately common for property management agreements to have those hidden fees, but I’m proud to say that my approach is all about integrity and transparency, and I'm sure many others are too.