After putting about $50k into the property,  I’m just about $25k from meeting my completion goal that includes stucco, drywall, and siding.

I would keep detailed records of my deals to include photos that I could use later when I am approaching a potential funding partner.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I ensure that my properties are free from pests and will address any issues that are reported within the first 30 days of moving in.

was there an agreement between you and your parents that they should share in the profits / losses of the airbnb / property.If there was an agreement, they should also be included in the LLC.It is best to discuss this all with an attorney.Best of luck!

That property sold for $820K in that horrible condition.I'll update my post to include an example of format, thanks for the suggestions.

Alternatively, your sibling might use a 1031 exchange to defer taxes by reinvesting in like-kind properties, though this doesn't directly fund a primary residence.Other ideas include leveraging a HELOC on the rental properties for the down payment, taking out a 401(k) loan, structuring an owner-financed agreement, or a lease-to-own arrangement.

@Ritu MahajanBuild a solid local team, including contractors, property managers, and lenders experienced with BRRRR.

This includes the strategies and actions  you employ by being able to do your own deals without any assistance.

I'm wondering how much specifics I need to include for each line item.