Renovation costs would need to be financed separately.Private Lending or Hard Money: Use a private or hard money loan to acquire and rehab the property, then refinance into a joint long-term loan.Seller Financing: Negotiate terms directly with the seller for a flexible financing arrangement.Final ThoughtsUsing an FHA 203(k) loan for your first property is a smart move, and with the right partnership agreement, you can still achieve your 50/50 goals.

Does it require any additional rehab costs? 

If the property needs rehab and the ARV allows it, you could do a 10% downpayment on a fix and flip loan. 

I can disclose the property address and details if you would like to chat.

If it was just my house sitting I would say I over estimated the sales price or over rehabbed, something, but it is most homes in the same area that had been moving so quickly are now sitting for months and are all priced according to market value.

The letters and post cards are coming to my personal address but they don’t mention the property in question.

I was the Listing Agent.Lastly, who do you insure the property with while it is getting rehabbed ? 

Collection is on time, they address repairs promptly, leases get renewed and increased based on market research.

It’s considered an act of god if a strong wind blows down a healthy tree that nobody expected to fall, but if a dead tree has been looking like it’s about to fall for awhile and the owner has been notified of the hazard it causes, then their inaction can cause them to be negligent in addressing the hazard, and they may be found to be liable.

Yet somehow I did not have the lady taking the packages on camera (maybe she did not and it was weird set of circumstances with packages delivered to the wrong address).