We negotiated a deal with the owner for 20% Equity, we are responsible for infilling the community as well as property management (which we also get paid separately for).

We have done it both ways where we fund purchase and they cover rehab but if the individual is less experienced we do not do it that way, we have them put more money into the deal from the start and fund the draws, reason why is we also had a deal where the person said they would do this and never did anything and property sat and loan matured and it was a pain.Just recognize you will still not get 100% financing for the purchase, so you are putting money in up front. 

I’m especially interested in residential rentals, STR's, or multifamily properties, but I’m open to exploring other areas as well.I’m here to connect with like-minded individuals, gain insights from experienced investors, and contribute however I can to this community.

Most of the ultra wealthy individuals sacrifice a lot to obtain their wealth, and I won’t make those same sacrifices.Similarly, I don’t desire to have 5% body fat because I don’t want to put in the effort required for it.I understand that ultra wealthy is subjective, but the main point stands. 

Your response really helped me understand the key aspects of short sales, especially regarding title issues, lender valuation, and inspections.I truly appreciate you taking the time to share your expertise!

Making matters worse, 99.9% of individuals on BiggerPockets who want to buy in distant markets do so because the entry cost of doing business is lower.

@Bob Asad I like the individual sub account method escrow account, but there are multiple different ways to hold security deposits and multiple laws in different states.

If you go with the partnership route1) You need to manage the money going in and out of the business bank account.2) File a partnership return and be responsible for issuing K-1's3) make distributions to you and your partner for cash flow that you receiveYou will likely spend many hours on a nice gesture.I may want to consider instead to give a christmas gift or a bonus for early completion of projects.

We can also lend to both individuals and LLCs.I'd be happy to share my experience as both an investor and as a lender.

Though the buildings are attached, the guest rooms all have individual exterior entrances with no interior connection to the residence.