I'm a financial planner who works with real estate investors - we have a client who plans to renovate a Clinton Hill (Brooklyn) property that has been in his family for generations into a multifamily rental.

However, understanding all the costs of buying a real estate investment property will help you avoid costly mistakes.Buying a rental property, holiday home, or property to flip can yield short-term and long-term financial gains.

Are you only doing private money are you doing asset based/traditional as well? 

What financial institution should I talk to?

This is a huge plus because it offers liability protection, meaning your personal assets are shielded if there are any legal issues with tenants or the property.Doesn’t Appear on Your Personal Credit: One of the big perks is that these loans don’t get reported on your personal credit profile, so they won’t impact your credit score or debt visibility.

Sober living is one of the hardest management assets out there.

We plan to hold this asset for 3-5 years.

If you're both 50/50 in each asset, why not create a partnership now, and contribute both assets to the partnership; where you will be 50/50 owners.

2) Also, is it allowed for proceeds of both sales to be used as down payment towards 1 single asset?

Valuation of the asset condition is even more important than calculating returns because your calculation of returns comes after asset condition valuation.