So, if you fail to apply the correct assumptions to a property, your expectations won’t be met and it may even be a financial disaster.We use the following to rank Property Classes, in order of importance:Property Tenant Pool: closely linked to location, but not always.Property Location: closely linked to tenant pool, but not always.Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.

page=LoadVirtualDoc&BookmarkID=6536) that capped annual increases to the Taxable Value of a property to the lower of 5% or Michigan's Cost of Living increase.

But to your question ... 

It’s “illegal” to purchase a property without the approval of the existing note holder (subject to)2.

If you would like to chat sometime please reach out to me.

Just to confirm- does your wife have any other W2 job? 

., It is fine to sell a % ownership and do a 1031 exchange. 

I hope to use private capital to fund the entry fees in second position.  

If you aren't discipline enough to learn this on your own, the road to getting your real estate license will force you to learn them.

Welcome to the BiggerPockets community @Michael Goddard!