The 3rd partner if it's recourse should have it limited to their ownership percentage or less AND should try to get a burn off provision once LTV drops below a certain point the recourse goes away all together and cannot be re-triggered back in the future.This is why my clients with 10,20,50 million net worth love non-recourse with specific language for only fraud and bankruptcy carve-outs.

I hear you and it makes perfect sense (I was just worrying that I would be red-flagging the current owner who is operating it as a 3 unit.

Questions: What kind of LLC (single member or multi member)? Is

Yes, I looked at the forum posts but I wasn't actually a member. I

Many older homes do have these and you will be red flagged without them.

Seller's proforma numbers and expense numbers in a listing are not to be relied upon.

Whatever those are, I suggest you define them, make them visible to yourself and commit to them. as a new member (I think 11 minutes now lol) I am very impressed with all the supporting material contained within this website & intend to capitalize on them.

To answer your question however, you need to buy something using your CC, that can be re-sold or redeemed without loosing money.

If they are all fresh and on their first one year lease could be red flag... or could be a good landlord getting non performing tenants out.

For me it depends on the family member. I