Love for learning, intellectual curiosity, persistent desire to know, the hungry mind...call it what you want. 

Out of curiosity, do you know if there is a certain number of days/percentage of the year you need to live in the residence for it to constitute a second home and not a true investment property?

I know there's many different ways to evaluate what the company is worth, I'm just curious how other people with experience in this area would think through the negotiation.Initial investment: $15,000 each/$30,000 totalAcquired 1 property for $24,500Have put about $10,000 worth of work into the property, some demo, updated electric, moved plumbing, new windows, new door, some framingCurrent value of property is hard to determine, there aren't any good comps but my gut says it's worth about $40-45,000, will be worth about $60-65,000 when finishedPartner has made personal loans in the amount of $25,000 thus far (I think 4.5%, cannot readily find the agreement), with interest accruing to be paid out when property is rented, refinanced and loan paid in one lump sum.

I've done many google searches, and have yet to find anything that satisfies my curiosity..  

You each accrue interest on the loan you made to your business.

I did my due diligence and checked with the city & code enforcement states the bill is still accruing at $100 per day per for the past 3 years.  

The cash expenses are possibly true if the owner is milking the property for cash flow and skimping on capex/repairs (though the owner should accrue a reserve for those costs).  

TWO-THIRDSAccount Closed, one of your comments above, coupled with my curiosity about the affordability impact of interest rate changes, caused me to dig in and do more analysis.

Just out of curiosity, how much was the "insurance fee"?

Out of curiosity, where are your European properties?