$1,200,000 purchase price and the balance for closing costs, repairs and reserves.There are ways to obtain financing in Mexico, but most sellers are expecting cash deals.

HI Vince, as long as you are vacating your current primary home and moving into a new primary that is acceptable, but just make sure you obtain a 12 month lease in order to use the rental income to offset your mortgage payment and not getting hit twice for your current mortgage and new mortgage.

Additionally, I’m considering converting a garage into a bedroom.If I want to list these properties on Airbnb, I understand I’ll need to obtain the following:• BTR (Business Tax Receipt)• CU (Certificate of Use)For these, I’ll need to undergo a city inspection.

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

Once we were able to obtain those statuses it has been booked pretty solid.

Structuring the Deal with a PartnerWhile your partner cannot directly participate in the loan, there are ways to structure your arrangement to reflect your 50/50 partnership:Option 1: Post-Purchase Equity SaleYou obtain the 203(k) loan in your name as the owner-occupant.After closing, you sell your partner 50% equity in the property via a quitclaim deed or similar legal instrument.Your partnership agreement would outline each person’s roles, responsibilities, and share of profits.Note: Be mindful of FHA’s rules around title changes and ensure this doesn’t violate loan terms.Option 2: Partnership Contribution AgreementYou both contribute to the down payment and renovation costs as outlined in a partnership agreement.Your partner’s contribution could be recognized as a share of the equity in exchange for funding, services, or property management.The partnership agreement would detail how profits, responsibilities, and equity are split.Option 3: Joint Venture AgreementStructure the deal as a joint venture, where you own the property personally (required for the FHA loan), but profits and roles are split per a formal agreement.Your partner could receive equity-like compensation through profit-sharing without being on the title.3.

Reach out to the Marcus & Millichap offices in Columbus/Cleveland and have one of the MMCC commercial mortgage brokers produce a few quotes for you.If you don't have the time to research contact info / programs for 25-50 different lenders and make the calls/emails necessary to obtain optimal financing, hire a broker.

Hard money, which is most commonly from an institutional lender (either a broker with a white label setup or a lending firm), is generally available, but you will need to meet experience requirements to obtain funding from these kinds of lenders.

I agree with Carl, you should remove this post and work with your attorney to obtain legal advice.

I just finished rehab on my first Cleveland property and we're waiting on the lead certificate to come back which I'm told 30-60 days. I have a rental agent in charge already established and started the rental registr...