I may be able to help you secure a no-experience ground-up construction loan, even though lenders typically require someone with prior construction experience.If you're willing to reach out, I’d be happy to discuss the possibility of pulling some strings to get this project funded.

This could be a share of the profits or equity, typically in the 20-30% range, depending on the complexity and the workload.

@Roy Mitle When the syndicate sold the property, the $32K gain (Box 10) is a Section 1231 gain, typically treated as capital gain.

These loans typically don't require the same strict income verification as conventional loans, and they focus more on your assets and property income.

The rent for Section 8 tenants is typically determined by the housing authority based on local market rates and guidelines, but you can request a rent amount.

However, that won't work for several reasons:  1) The lender is not going to finance the $15k assignment fee2) The lender isn't going to consider the purchase price in this example to be $150k, they would typically use the $135k price in the original contract, and 3) In this particular example they may not even use the $135k price because it's not an arms-length transaction since it ultimately boils down to a deal between you and your father.I applaud you for trying to be creative, but ultimately what you're proposing isn't going to work and it's going to make the transaction a lot more complicated than it needs to be.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Bank Loan: It’s true that banks typically look for steady income, but a large down payment (20-30%) and good credit could help strengthen your application.

I've used her for all of my rentals and typically recommend her if my clients don't have a preferred insurance vendor already. 

These companies typically charge anywhere from $200 to $500, and they take care of the Articles of Organization, EIN, and operating agreement.