Currently, my friend and I split the monthly mortgage payment but he pays all utilities.

If you were going to rehab and sell, you could just bring on a money partner and split the profits and manage the work.

Buy the worst house in a great neighborhood, do rehab, ADU, lot split.4.  

I do believe the investment can be split among more properties, correct?

Hi @Mark S. each fund is different in structure, some are preferred return only, some are profit split, some are a hybrid, some are debt only, depends on the fund and the sponsor.

The way the house is laid out lends itself to being split into a two family property which is a goal going forward.

A deal that produced a 25% net IRR to investors with a 1% acquisition fee, 1% asset management fee, simply pref + single tier waterfall, etc, may only produce a 15% net IRR under the current fee and carry structure, if their acq fee went to 3%, pref went down, they now have a GP catchup and multi-tier waterfall giving them higher splits for higher returns, etc.

Once the home is done we will be selling it off and splitting the net profit.  

We have also completed some exciting improvements including retyring a boiler for heat/cool ductless mini-splits and 9 units being electrically updates.

My clients are still buying long term stabilized single tenant NNN more 10 to 15 year type stuff.I am buying with my syndication all cash short term lease blend and extend opportunities.Accredited investor 200k minimum per property for LP'sTypically pay 8 pref on value add deals and split cash flow thereafter 50/50 between LP and GP.Closed on Walgreens last month at 11 cap rate absolute NNN with 5 years primary term remaining.