It does share similarities with annuities, but the structure is designed for a specific audience:Property Owners: Typically those who already own income-producing properties but need liquidity for renovations, debt repayment, or other opportunities.Investors: People seeking exposure to real estate cash flow without the complexities of direct ownership, especially those already familiar with stocks or REITs.Again, the idea of the model isn’t for everyone.

-Max LTARV is typically 75% -Is a 12-24 Month Interest-only loan with a balloon payment - Minimum credit score is typically 600 -Interest on the Rehab is usually paid per the total drawn amount. 

----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

And then also do you typically repay each partner their upfront costs from the profits before then distributing profits?

Yes, when there are multiple adult occupants, you would typically combine their gross incomes to determine if they meet the income criteria.

Typically 75% of rental income can be applied towards your DTI for qualification. 

Without accounting for management fees (I have not yet decided if I will try to self manage), and with planning to raise rents to typical market of $825 for each of the smaller units, and $1200 for the larger unit, does this seem like a worthy first investment? 

Typically the first set of tenants I screen are the ones who end up in the unit due to prescreening activities like my application and making sure I meet them.

And, the longer you wait to act, the longer the squatter stays - and even gains some legal protections to stay while your waiting on a slow court system to act on an eviction. 

I'm trying to learn and gain confidence for when I'm ready!