I fully believe that in the end the new capital will save the deal for ODC, they’ll be able to return a small single digit EM to the pref equity holders after 10 years and the original LPs will still lose a portion of our investment.

The tenant owes 3 months of rent, unpaid utilities, and trashed my 2022 built condo and left several days before the sheriff had to break into the condo as no keys or forwarding address was left by the tenant. 

Eventually, I'd like to utilize a 1031 exchange to trade up into larger multifamily units.Thanks in advance for your insights!

Have a legal advisor or counsel review your documents before signing.These will make your ultimate exit strategy, post Hard Money financing period, much easier when: - preparing & submitting paperwork for individual tax returns - maintaining the note in good stating with consistent payments & digital payment history paper trail - digital and/or easy access to documentation - preparing for a Re-Fi, Conventional financing, payoff, or even Flip/Sale & deed/title reconveyance to remove the Hard Money Lein holider at the end of the note's term

The problem is that there constantly seems to be fees being charged to me an example of this is in the contract  there is an additional 100 dollars allocated to sewer and water that the tenant automatically pays every month with rent and anything outside of it should be billed to the customer (there is no specificed time when this will occur on the contract) but it appears to be billed to me and after speaking to IIP it's like they made up rule on the spot stating that after 6 months all of the additional utility fees would be billed to the customer and in the meantime I am being charged for it.

Will need to deal with Land use, utilities, trees removal/mitigations.

Once you stabilize the property with a tenant, you may explore a cash-out refinance to utilize the increased home value for additional renovations.

I utilized 7% for CAPEXand 7 % for maintenance given recent updates .Tenant pay for electricity and gas.

how can I utilize my 6 houses and cross collateralize ?

I would love to connect with people in Northern New Jersey that are utilizing the Medium Term Rental strategy locally; specifically furnished rooms that are being rented.