Would be fine with a 10 year arm or 30 year fixed product.Why would you not do the 1031 exchange option based on the way you outlined the scenario above (acquire an appreciating asset, defer taxes)?

I would have everything outlined ahead of time in a written contract.

.- Create a detailed business plan: Outline roles, responsibilities, and how you'll handle decisions and potential conflicts.- Build a network: Connect with real estate agents, wholesalers, and other investors to find good deals.- Educate yourselves: Learn about local market trends, zoning laws, and permitting processes.- Set realistic timelines: Account for your full-time jobs when planning project schedules.- Budget carefully: Include a contingency fund for unexpected issues.- Focus on high-ROI improvements: Prioritize renovations that add the most value.- Document everything: Keep detailed records of expenses, work completed, and agreements.- Consider liability protection: Look into forming an LLC or other business entity.Starting with cash is a smart move to minimize risk and learn the process.

When I worked for a local developer to me, we had this HUGE risk management spreadsheet we had to go through outlining every known risk on the project, who was in charge of it and what we were doing to remediate it.

I am kind of facing the same dilemma.I am talking to an independent SEO specialist that takes the approach @Colby Hager outlined.

I would 100% go with Nathan’s “Two Steps to Our Contract Expected Adherence to Certain Performance Standards on Your Part as a Licensed Professional, Too, Solution” he outlined.

Start with formulating your new layout around any existing plumbing sources, and then go through the same questions outlined above.  

Outline that the sale is contingent upon the inspection report being satisfactory to the buyer.- Appraisal Contingency: State that the purchase is contingent upon the property appraising for at least the purchase price.

Again, please read thoroughly the statutes, they should outline if you must or not keep separate, of course interest or non interest bearing, etc… As long as it does not specify “where” you keep the account, you should be able to put that in your brokerage account.Here in Florida, we can’t commingle accounts and must reconcile each month.

I HIGHLY recommend checking it out as it outlines exactly what to do.