Biggest clauses are: who's responsible for what, what are the penalties if someone doesn't perform their duties (including forcing them out) and what happens if one party wants out and the others don't.BTW: your brother should do this with his new girlfriend BEFORE paying part of her mortgage!

I believe an effective approach is to include a seller concession in the purchase contract, specifically as a seller contribution towards the buyer's closing costs.For instance, we had a case with VA buyers where we implemented this strategy, allowing a portion of the loan to be disbursed to them in cash.

House hacking is a powerful strategy, and where many including myself have started out.

It includes paperwork, scheduling third-party inspections, and meeting critical dates for due diligence and closing.By leveraging technology, we use platforms like Asana to assign and track tasks.

Expanding your search includes smaller cities, value-add opportunities, hiring part-time assistants, and building a network of professionals.

Necessary Stats:Credit Score: 740+Loan Type/Amount: Conventional/$320KProjected Income: $3100 (including me paying myself rent)Down Payment: 5%Let me know if there is extra info needed and thanks ahead of time for any advice that is offered!

Create a Solid Business Plan: Outline your investment strategy, including expected rental income, expenses, and occupancy rates.

Investment Info: Multi-family residential buy & hold investment located a 20-mile drive or 25-minute ferry ride from downtown Boston in the beach town of Hull, Massachusetts, also known as Nantasket Beach.Purchase price: $550,000 in 2016Cash invested: $137,500 from 1031 exchange (75% mortgage)A 14-unit property on a corner lot, and it includes an adjacent lot as well (10,000 sq ft total lot size, double the town median lot size), giving an exceptionally large patio, yard, parking areas front and back, and a storage shed.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

On arrival the house rules also included how things worked in the unit (TV, Laundry, etc.), where things are (cleaning supplies, trash, etc.) and points of interest in the area (such as local attractions and restaurants).As I am new and definitely still learning, if I missed something please let me know.Wish you the best as you get set up!