If she isn’t looking for a lump sum right now you could ask that she seller finance at whatever terms work for you both.I’d aim for the latter if possible since you could always refinance and there is less risk assuming the refi will meet your assumptions in the short term.

@Skyler FlintallNOI = gross income minus expensesCap Rate = NOI divided by the purchase priceCap Rate is just a measure of the return relative to the cost of the asset explained as a percentage of the purchase price you get back each year.NOI is simply the dollar amount left over after all expenses (FYI: not including the mortgage).

There are also lots of factors that can change the way I move forward, but generally speaking this is how I aim to avoid the finance issues with banks.

We went to the unit yesterday to measure a few things and found a leak which appears to be coming from above unit.

@Tom Gimer Thank you for your measured response, I appreciate your willingness to take the time to engage on the issues with me on this in pursuit of an answer.

So far, I’m thinking about extra closets with locks, maximum number of bedrooms feasible (aiming for four or five), fireplace and some kind of a nice outdoor deck or screen porch, possibly a hot tub.

Assuming he viewed the property and did his own measurements he shouldn't have missed $200 worth of materials.I agree that additional scope happens after projects begin, especially roofing and other projects where you start to dig into the structure.

I put out the calculations, I also have an incredible history of success and the amount of REAL profits are measured by more than $10 Million.I would say 90% of those who are biased against these future calculations will just continue with their bias.

Economic breadth" is measured on two axes – how much any single industry dominates the economy and how much any single size of company dominates the economy.

What: 1) 3 story, appx 2200 sqft apartment building built in late 1880's, all boarded up needing a major gut rehab (# of bed/bath are unknown) 2) lot right next to the above building (don't have the measure yet but it's small, appx. 0.2 acre or possible under )Purchase Prices, ARVs, and asking prices (provided by the potential partner): Potential partner got both of them as is off of a private auction at below prices: 1) building: auction purchase 700k; ARV of 1.3M; asking to sell at 900k 2) lot : auction purchase 300k; ARV of up to 1M; asking to sell at 300k Proposed Partnership: She is funding 90% of the deal through her private lender so she needs to put down $100k of her own cash and she is asking me to put down $50k with profit split of 25:75.