Great question and honestly, having a business partner can be both a blessing and a challenge, depending on how you approach it.

There are pros and cons to this approach but it's one thing that makes REI fun.

Then as units become vacant, then do other renovations.Hi Rick - I love this approach and way of thinking.

Noted for future posts, though again my intent was to help investors understand that making these upgrades can be incredibly beneficial and isn't something most people are looking at. 

She was incredibly grateful for the help we provided and couldn’t believe her dream of moving to live with her daughter had finally come true.

Hello BP Community,I have been approached by the holder of a seller-financed note (for a property I purchased from them) asking if I would be able to repay my note earlier than agreed. 

I am an incredibly fast learner, but most importantly, I am courageous enough to take the steps necessary to move forward.  

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.

I recommend getting around 5-8 quotes to see how each contractor would approach the job.