Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

Also want to invest in my personal rental properties and create good cash flowing portfolio.

If you are lowballing, a cash offer, waiving inspection out clause etc. can be helpful and don't ask for anything else.

Even if you are negative cash flowing but living there, it may be worth it, as you are not paying rent to someone else.

How much time / cash / other are each individual expected to contribute?

Hi Chris from the U.P. of Michigan.Congratulations on deciding to get into real estate investing with your first Buy, Rehab, Rent, Re-finance, and Repeat or BRRRR and you are wondering where to start and who you should add to your team first.It is good you have cash or cash equivalents to buy the property and complete the repairs.As far as who to have on your team first, I would say an investor friendly Realtor who can help you find deals and introduce you to the rest of the team like a good property inspector to hopefully let you know about potentially expensive repairs early before buying the property so you can buy it well or not buy it at all.

He wanted 1/3 payment up front in cash and I paid him.

Here was my experience house hacking in my 20's as well: https://www.biggerpockets.com/forums/922/topics/1133476-hous...Cash reserves have saved me multiple times, but my properties were both NOT renovated. 

Many people are actually cash out refinancing and LOOSING the great interest rates they have on their 1st mortgage.

If you own cash, then you will probably have to get a loan to buy out the other person (most people don't have hundreds of thousands of dollars sitting around to buy someone out).