I actually met my Houston realtor through BiggerPockets, and he highly recommended the area.

They develop, they build, they finance, they property manage, they will have HAO, cleaning crew etc. etc. etc. so the subsidiary companies make money every step of the way.From investor perspective: The investor pay $15 K to reserve the right to purchase 25 multiplex over the year of next 5 years. 5 each year.

(Others would be more boring and say it’s just my money earning money.

In terms of finding a partner, I would recommend partnering with someone who has something that you don't have (understands renovations, real estate experience, has money, etc.)

You get money at closing and then you refinance when rates go down.Anyone done this before?

Tax law is complex and is actually a small part of the CPA exam. 

We feel bad that he did it for free, and he deserves to be paid for his time/effort, but if we pay him, now we have to go back to our tenant several months after the door was fixed and say “actually, we got charged after all, so now we need to pass that cost along to you”.

So, that was a waste of time and money, right?

And that can cost you time and money.

Best way to think about hard money is as a bridge loan.