This is because I only buy nice properties which helps minimize my future repairs.

But if refinancing doesn’t leave you with enough equity for future deals, you might be better off flipping for cash and avoiding a lot of refinancing headaches in the short term.If you’re planning to buy your sister out and retain full ownership, you’ll also want to ensure that the numbers still make sense on a long-term hold.

Do not think you can just start an investment company with 15k (that is reserves only on one property).Work for the next couple of years while you all learn and use your skills to help build the foundation of a future company and leverage your relationship with the alumni to see some of his properties and learn.

Hopefully future people will see this and avoid any RISK situation like this!

I hope in the near future I am able to add value to this community as well. 

One other thing to look for in a future architect, is one that has a track record of working with developers AND knows the entitlement processes for the very specific type of development you are doing.

I would gladly invest with them again in the future!

Let me know what you end up doing, seems like he has a bright future.  

I purchased it for my future grandkids.

I am dwelling on how to scan future tenants and what to have in my lease agreement and more.