I know I made a lot of mistakes here, and if I could go back would certainly do things differently.Key facts:• no written partnership agreement • In business for 1 year, with 8 total combined clients• 2024 total income $29,500• No shared business property or initial investment.

We are quickly approaching the Silver Tsunami of the boomer generation aging into needing assisted living.

I am proposed GP with development / management experience, however my liquidity is tied up in a separate development initiative. 

Instead of tying up your capital in a high-cost primary residence, consider taking the would-be down payment and investing it in out-of-state properties.This strategy allows you to diversify your portfolio across multiple assets, spreading risk while potentially generating cash flow and building equity in appreciating markets.

Also be aware that your cash-out refi will likely need to be 75% - 80% LTV, not 99% like the initial financing when you run your numbers. 

My good experiences come from the knowledge I've gained and the initial support I received from RTR.

@Ben Cochran I hope you have factored STR tax savings into your cashflow and ROI as it can be significant.Leveraging equity to purchase a short-term rental (STR) in Tampa Bay can diversify your portfolio and potentially generate strong cash flow, but it also increases your financial risk.While your properties hold significant equity, adding debt from HELOCs or a DSCR loan could strain your finances if STR performance fluctuates or costs rise.

Did you use background checks initially and if so what did they miss if anything?

Here’s why and what alternatives might exist:Real Estate Syndication or Fund: Invest in funds that generate passive rental income, which can offset Schedule E losses.Real Estate Professional (REPS): Qualify for REPS to reclassify rental losses as non-passive, allowing them to offset active income.This post does not create a CPA-Client relationship.

I let one tenant break his lease when GK Houses didn't initiate repairs to a kitchen in drastic need of sudden repair while the tenant lived there.