For this reason, I teach people to set policies for renting to unrelated individuals.

Typically, we set up entities in the state in which the property resides.

Are you both friends and have unique skill sets and are breaking up the duties of investing based on those skills?

If the property is not yet generating income, you might want to consider other financing options like renovation loans or bridge loans, then refinance into a DSCR loan once it's stabilized.Hope this helps!

Another thing to consider would be a multifamily property so that you could use the other tenants' rent payments as income.

Is this considered part of the Bay Area?

Please feel free to connect with me and we can set up a time to go through our proses and inventory.  

Having a rental property in Virginia Beach already is a fantastic start, and your focus on BRRRRs, flips, and multifamily properties shows you’re ready to scale.OKC is an excellent market to consider—it’s affordable, has strong rental demand, and offers great BRRRR potential.

@Yael DoronIf you're working with a $150,000 budget and aiming for high ROI through rental income, consider nearby areas around Phoenix that still offer affordability and growth potential.

If you're considering RentRedi, my advice is DON'T!!!!