We didn’t find a joint investment, but I found an off-market deal and invested with my dad separately.

From the start, something seemed off with the seller and/or the seller's agent.

Here's the deal:Purchase Price (PP): $95kRenovation Budget (via HML): $60kTotal All-In Cost: $155kARV (After Repair Value): Around $200kRefinance (via DSCR Loan): 7% interest, 30-year fixedRefinance Details:After the refi, I will pay back the Hard Money Loan (HML) at 11.95% with 3 points:HML: $60,000Interest/fees: $3,585Other costs: $1,800Total to pay back HML: $65,385After the refi, I will have $84,615 left in cash.Cash Flow & Expenses:Expected Rent Income: $1,700/monthProperty Management (PM): $126/monthInsurance: $100/monthTaxes: $126/monthMortgage: $1,043.75/monthTotal Expenses: $1,395.75/monthSo my monthly cash flow is about:$1,700 - $1,395.75 = $304.25/month in cash flow.Return on Investment:Cash Invested After Refi: About $18,385 (after paying off HML and closing costs).Annual Cash Flow: $304.25 * 12 = $3,651Cash-on-Cash Return (CoC): $3,651 / $18,385 = 19.8%I didn’t account for maintenance costs since it’s a full gut rehab, and everything is brand new.

Agricultural land and residential development lots both offer strong, time-tested returns, especially in growing markets.I’d love to hear more about your experience with subdividing—what challenges have you run into, and how do you determine when it makes more sense to hold versus sell off portions?

If you wanna pay 8X, great, get it to me in writing.

I'm so excited to hear the Maximizing Your Tax Benefits session!

For now, my immediate goal is to pay off all of my credit card debt (should be accomplished by February 1.), and continue to educate myself on NOI, Cap rate, cash-on -cash return etc.BP community, I am open-minded, willing to take initiative, always willing to be taught something new, but also ready to share any experience or knowledge I have that can help someone else. 

Look for areas with strong demand for affordable housing and check infrastructure availability like water, sewer, and roads.Building relationships with local real estate brokers and connecting with municipal contacts can help uncover off-market deals and streamline your search.

You could structure the deal as an installment sale or a lease option so the property owner doesn't see a large capital gain tax payment for the sale.And good on you for helping out!

The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.