My note is a performing 1st and I plan on setting up the lender with Madison Management so that the payments on the Partial come from the performing loan.

This is great information on how to use short-term rentals to offset active income like W-2 and business income at tax time and how you qualify for doing that by documenting your material participation in managing and setting up the property.

Set aside some $ and use it on an off market campaign to find your next deal. 

While it’s not solely designed for remarketing, you can set up a remarketing campaign alongside your search keyword campaigns.

See here: https://store.biggerpockets.com/ Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/users Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts Check out BP Podcasts: https://www.biggerpockets.com/podcast If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

I want to set up meetings with local lenders but want to have my ducks in a row first. 

From ruins wrought with wear and time,I craft anew with plan sublime.Rent and reclaim in endless spin,Repeating cycles once again.A method veiled in night's embrace,What strategy sets such a pace?"

The setting in which the experience was gained plays a role in determining what constitutes a qualified and responsible person and what types of experience documentation may be acceptable.It goes on to list pretty much anybody related to construction fields, including homeowners you perform work for.

If we go with the second option and offer seller financing for the equity what interest rate should we charge and how would we go about setting that up?

Hey Rashim, I've worked with a bunch of Canadian investors that purchase in Detroit.The key is to set up your entity structure so you don't get hit with double taxation.