How much is this individual paying to park a trailer there?

It worked out.

You can only pull out 70% of the equity.

If you plan to hold longer than 5 years, I'd reccomend you wait it out.

That means an 800K purchase and a 200K rehab (1 million invested) can result in a 400K tax credit that results in 360K CASH back in the pocket of the investor.  

Not to mention the general PHX market has become expensive and people have already been looking for cost efficient alternatives in the northwest and southeast corners of the valley. 

If you are new and out-of-state, you are behind the 8-ball for sure and need to be very careful.

well you dont say how much you have in it.. but if you can sell now and lose 10k and get out of a HML that would be my suggestion.HML  if they go into default interest and you could look at losing quite a bit especially if your HML is one of those that are not forgiving and wont give an inch on what they are owed.

While you can start with a written agreement, a professional document will help protect both of you, particularly in terms of ownership, responsibilities, and profit-sharing.

If the investor would like to receive cash flow, I will pay them the $2,507.83 up until the remainer of the 5 years.The remaining profit earned with the $41,315 would be $191,784.80 total if you get paid for the duration of 20 years!