On the flip side, traditional financing typically offers better rates and longer terms but can take longer to close, and you’ll likely need stronger financials.If you’re trying to balance speed with cost-efficiency, it’s worth considering your project’s needs and how quickly you need to get funding.

I would generally say no if you don't have a property unless you're looking for peace of mind knowing that you've set your financial life properly. 

There are NO minimium balances. 

Also, explore creative financing options that might balance your partner’s limited credit/cash flow without putting all the risk on you.If you're attorney can't clearly articulate this, maybe it's time to find a new one.

Start by talking to a cross-border CPA and attorney to handle taxes and legal structures properly.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊Thanks Michael ! 

The property offered a balanced investment opportunity—enough to significantly enhance its value through renovations, yet manageable in scope and cost.

If you are looking for proper guidance from someone that has house hacked quite a few times and has the knowledge and experience to help get you going in the right direction, I recommend reaching out to @Josh Green.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases: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.

However, I am unsure on how to go about finding the proper handyman/maintenance guy/management team to help run any out-of-state investments I make.