He's three points and 12% to start and he will not supply rehab funds on the first one. 

My CPA instructed me to list my repairs as CAPEX or repair items , furnishings were supplies for the rental. 

As an out of town owner, one benefit of Madison is that we do have a good supply of property management companies to consider. 

.: I just got billed $365 by my property manager for replacing a toilet fill valve and supply line.

The equity increased a ton especially w the limited supply 

@Jamie BanksI understand there are multiple parties: 1) displaced insurance policy holder (tenants)  2) ALE 3) The company that supplies all the furniture and install the washer and dryer. 

I've heard of mentees who started cleaning up construction areas on a flip at the end of each work day or picking up supplies at Home Depot and delivering them to the job site.

Many people start out active because they want exposure to real estate and don't know that you can start out passive - you can effectively hire the asset manager and supply capital to the investment.You can have great success as an active or a passive investor - but it is important to understand the difference and to select whichever option matches your skills and resources the best.Good luck!

If I am reading correctly, they are simply supplying the money for the partnership. 

If there are barriers that limit similar supply and you figure out how to get the housing units online, even better.