Look through your documents.

Full Disclosure is Required for Non-Accredited InvestorsIf any non-accredited investors participate in your deal, you must provide them with detailed disclosure documents.The SEC states:“[The company] must give any non-accredited investors disclosure documents that generally contain the same type of information as provided in registered offerings.”This is where having a Private Placement Memorandum (PPM) and Subscription Agreement becomes absolutely necessary.A PPM outlines:✅ The risks of the investment✅ The structure of the deal✅ The terms and conditions✅ The use of fundsA Subscription Agreement ensures:✅ Investors acknowledge they understand the risks✅ They meet SEC requirements✅ They legally commit their capital🚨 Not providing these documents could leave you vulnerable to investor lawsuits.4.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

In this case, a DSCR loan will be much better since you can do a cash out refinance with no seasoning requirement as long as you have documented rehab on the property.

-The seller is on board with the idea of sharing equity (this needs to be documented upfront in the financing agreement).

Ensure your mortgage lender is requesting documents upfront early in the closing period so there is no last minute suprises3.

For a condo you can/should check the county assessor for land value  (you would apply the same allocation %, don't use their actual number listed) Also check your HOA documents.

That's looking at it through a narrow lens though, when you zoom out to 5-10-15 years down the road and calculate the difference, in my experience the appreciation has been far more beneficial than the $200 difference per month in cash flow from a different market.

HML is the same as getting a mortgage from a regular lender such as a bank or credit union, but the HML does not require as much documentation and they provide money really fast say, within a few days. 

Have proof on hand (easy enough to find) online of the missed tax payments and any documentation that supports that he specifically didn't pay his taxes.Probably a simply mistake on his part, but now if he wants to develop on it, he either has to land lease it from you or buy it back.I'm not sure how the whole tax deed thing works, so that would be something you have to figure out between the two of you.