Please follow the rules but there is no harm when you are talking to investors say I have heard people raising private money I always wonder how that would work.Joe Gore

If you do not like someone being negative, rude or rejecting you, then you are in the wrong business. 99% of your investment leads are going to laugh at you, cuss you out, reject your offer, threaten you with bodily harm, etc etc etc.

You will likely need permits to do the work needed to convert this building into a habitable structure.

Repairs that are necessary to maintain "habitability" need to be done whether the unit is occupied or not.

"One of the most common causes of failure is the habit of quitting when one is overtaken by temporary defeat." - Think and Grow RichAs for mentors, I believe you are cultivating mentors by posting on biggerpockets.

Joseph F.In many municipal jurisdictions, there could be a question of "habitability" .The town might condemn your property and say that nobody could live there.

jk but I will say I make it a monthly habit to attend my local meet up because it is so beneficial.

Here are my basis points currently:1) I really trust these guys, and they all have pertinent experience with construction, remodeling and HVAC.2) We are all in the same stage of life... mid 20's, currently renting, new family's, and most importantly low personal capitol.Here is what I'm weighing:1) Is it more helpful or more harmful to have cost/profit sharing?

From there it was on, I was addicted, I listened to all of Tony Robbins courses, Think and Grow Rich, The 7 Habits of Highly Effective People etc... but it wasn't until I finally read Rich Dad, Poor Dad in which I questioned the whole "work" thing.

We maintain the habitability of the unit and easily meet the housing quality standard (HQS)  because our standards are higher than that of HUD and the PHA.If a Section 8 tenant veers from abiding by the terms of our rental agreement we have the additional benefit of being able to contact the tenant's case manager at the PHA and they will put pressure on the tenant to come back into compliance.