In the sales contract the option to limit the seller to retaining the deposit instead of suing for liquidated damages is usually selected.

I live here locally so I’m definitely interested in some sort of group/meetup like this.

Today those numbers would certainly be higher… so your funding is a big concern to me on the ‘flips” side.I sort of point you back toward the old adage that real estate is not a get rich quick scheme.  

I was looking at placing some money into a passive investment of sorts and was considering Fundrise or Arrived.

It was a simple selection and scheduling process.

The other issue is the time and energy it takes to sort this out if you end up being reassessed (some people never have it happen.)  

@Tricia O'BrienIn our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

It all depends on what sort of deal you are thinking.  

15.3% Self-employment taxes is a lot.Scenario 1 - You do a cost segregation study in year 1 and create a huge loss to offset your other income, great for year 1.Horrible for years after 1 as you used up a majority of your depreciation and now your net income will be subject to 15.3%.If your depreciation is mostly used up and don't plan to have net income, your business is not profitable.Scenario 2 - No cost segregation study is done and your depreciation is calculated over 39 years(low depreciation rate, you will likely be paying some sort of net income subject to 15.3%.Maybe not in year 1 if you have a lot of furnishings installed.

Is it possible to get get someone with some experience in these types of developments on as a partner of some sort?