Carefully financially model this, so you make a profit.5.  

I hear of all these great profits that are being made investing in real estate that has a major “business” component, like small assisted living properties; rooming houses; sober living arrangements, etc.  

To protect both parties in your partnership on a BRRRR strategy, you’ll need a **Partnership Agreement** outlining contributions, roles, and profit-sharing, a **Rehabilitation Agreement** detailing rehab work, costs, and responsibilities, and a **Loan and Refinance Agreement** specifying the terms for repaying rehab costs post-refinance.

Purchasing a property in a place that one has zero connection to, no working knowledge of, and is dependent upon strangers with a profit motive to succeed is a terrible idea. 

We then logged all three parcels for a total of $70,000 in logging profits.

We then logged all three parcels for a total of $70,000 in logging profits.

So you will have to wait to realize the profits for at least 6 months is my understanding.  

Maybe the market is hot enough that you could still turn a profit selling as is, but typically, sellers will ask you to take care of them before closing AND likely pay less for the property simply because there are known defects.

We then logged all three parcels for a total of $70,000 in logging profits.

After expenses and utilities you net $1,000 profit but it cost you $15,000 to furnish the house and you only have a 1 or 2 year lease.