Having a commercial policy usually only covers property and liability, hence the reason for having the umbrella as well.

I wanted to start with a cheaper property I could reasonably afford and also learn from.

The hilly terrain is a main reason for this and you can't really see that on a map so knowing the areas is key.We have old housing stock as well so big things like plumbing and electrical can vary cost wise if they have or haven't been updated.

Greene Met is very reasonable to work with for the most part. 

The coaching for Jonathan's The Land Method is NOT substantially cheaper. 

For reasons I don't yet understand, if the property is sold I cannot take advantage of a 1031 Exchange and my gains will be taxed as income, which will be 35% federal and 11.3% CA income tax. 

@Brittney Yang first red flag is it doesn’t sound like he’s that interested in long term holds but the primary reason for partnership is expertise in renovation and secondary reason is balance sheet and income to help get financing.Regarding reason one, I would offer to compensate him for his time in assisting you and have a very clear scope of what that responsibility is.  

Ease of working with owner = easier for you to cohost --- some owners micromanage and 2-3x the amount of work for you for no reason.

I dont see any reason why the market would go up with the number of new buildings they are putting into the city as well as factors mentioned above.

Maybe it’s just gut feel, but for some reason It FEELS like these two scenarios will provide excellent opportunities moving forward, while fishing for notes to purchase at significant discounts to current principal enough to yield sufficient returns doesn’t seem as promising.