Total rent accrued to be $20K due.Out of 5 bedrooms in the house, 3 tenants were remaining.  2 agreed to leave peacefully. 

If we continue in Cincinnati, this will never happen again with this new knowledge we've accrued! 

I feel your curiosity on how RE people still didn't figure out that with simple coding they can automate so much of their work let alone create better underwriting models and even design. 

We have accrued decent equity in our home in NJ and maybe a bit in the rental prop purchased in FL earlier this year.

Caleb, out of curiosity, what did you plan for rehab? 

Everyone seems to have a slightly different mechanism of calculating the splits, so I would reach out to them and see if they can walk you through the calculation.We use an investor management platform that calculates the splits (to the penny), keeps an audit trail, tracks accrued distributions (if you are doing development or heavy value add), etc.

Typically DPA takes the form of a 1st and 2nd combo, sometimes a 1st, 2nd, and 3rd combo where the down payment and closing costs are basically financed. in some cases, that chunk of money is either silently accruing interest without a payment, and under certain circumstances, forgiven if you play your cards right. but it does pose a challenge for refinancing as you are not walking in with equity -- you're starting out a little over-leveraged. 

Just out of curiosity- if the disabled person isn't the tenant or living there, would ADA still apply?

Just out of curiosity and not challenging what your assessment of the uniqueness of the property, I'd like to know how the potential of it being unique earns more than having more sq ft to charge for?

Out of curiosity, why did you only charge them 40% each and not 50%?