Friendship and business don’t always mix well, so it’s critical to use a solid lease and treat this as a business arrangement.

@Lillian Pintaro,Birmingham’s a lucrative market—it’s been my stomping ground for nearly 20 years, and you can find some excellent deals if you know what you’re after and dive deep by zip code, neighborhood, and city block.For what it’s worth, we manage 2,000+ units (many for out-of-state investors) mostly in the north and west part of town—so think suburbs outside the city limits like Graysville (35073), Adamsville (35005), Mount Olive (35117), Center Point (35215), and the like.Since you’re also open to the surrounding areas, places like Odenville (to the east) and Tuscaloosa (to the southwest) could be worth checking out.

Quote from @Victor Yang: If I gift a house, what amount will go towards the lifetime gift limit, the amount i purchased the house for, or the current FMV?

Age doesn’t limit you a small mind and lack of creativity does.

You could operate as a Limited Partner (LP) while the General Partners (GP) are in the trenches doing the leg-work. 

If you refinance now, you may be limited to a rate and term or delayed purchase (depending on the lender) or pay higher points/fees/higher rate using a DSCR loan without a cash out seasoning requirement.

However, you must have reasonable limits and hold to them.I give a great example in my book where a tenant abandoned a 2,000-square-foot home full of nice furniture, expensive jewelry, a brand-new $2,000 rifle still in the box, etc.

I started off with the standard turbo tax for 1099s and it felt limited.

Phoenix is the fastest growing metro in AZ.The campaign is generating leads, however with my minimal real estate investing experience and limited time from my full time job I feel like I'm not maximizing my opportunity here.The way I see it is I have 2 paths:1.

This waterfall would materially limit your upside as an LP if the fund ends up being highly successful.