This interaction also allows one to gauge the sponsor's communication skills and professionalism.10 Questions for the First Call1) What's the Sponsor's investment thesis?

They communicated again at a later time which is great but irrelevant to the question in my opinion because they didn't change the plan they just clarified it.

I like to tell new investors KISS haha Keep It Stupid Simple.

I am currently involved with a simple single-family rehab adjacent to a larger ground up project.

But your plan is pretty simple and straightforard and should be enough to help you/someone get started!

Communication - how do you communicate scope, costs, schedules, and most importantly, conflict resolution?

Once our partners get that vision it is smooth sailing.Our formula is simple.

@Kyle Rucker- thanks ....you will have a tough time locating a 2nd loan for  180K +  ....Ask the realtor you are working with for options ...Make sure that the lender holding the FHA loan will be able to approve your assumption  request  ( this can be a long drawn out step ) .....if you do find a 2nd mtg - compare the fha loan and 2nd mtg  to a  simple new FHA or conventional loan as there may not be a large difference 

Have just hired a bookkeeper and at first she questioned having so many accounts but is now finding it a simple way to deal with the complexity of the fact that I have 7 properties and in keeping track of everything.

You WILL be adding $1,000’s if not $10’s of thousands in additional costs (accounting, insurance, banking, and financing will all cost more.)to protect the equity in the properties that a simple umbrella would have protected.