So in order to really compare apples to apples it is more complicated than just the commission portion of the transaction costs. 

The early portion of my career was buying turnkey rentals, like the one you described. 

In contrast, partial note investors invest in a portion of the loan’s yield, with no single investor holding a priority position over others.

The cash flow portion of real estate is often related to risk and sweat equity, which is a different aspect of investment.

Make sure it would be someone you could learn from in the deal and then I would encourage you to only use a portion (probably only 50k to 100k) of your available capital in the deal.  

Does the cost cover all portions or are there "upsales" where more "services" are provided?

Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.

Cash portion of purchase price (of course!)

Perhaps in return they collect an acquisition fee,  collect a construction management fee & share in a portion of the upside.

.- If I use any of the above, can I use a portion of the money to pay off personal debt?