Most HMLs I deal with require a minimum of $10k equity (or 10%, whichever is higher) in each property.

Managing self-employment income requires tracking eligible deductions like business expenses, home office use, and retirement contributions.

As soon as you get below 100% (or whatever the required amount is) they're selling.

.- To utilize the Mills Act requires a few things: An application (not free), inspections, and most importantly a contract with the city in which you promise to rehab and maintain the historic nature of the property.- The inspections are only 5 years, but tenants are not likely to take care of them home as well as you, and refurbishing hardwood, lath and plaster, and anything else is going to be much more expensive than the typical Landlord special (white paint, and grey LVP)It will all come down to making your numbers work.

There is also a huge amount of strategic and legal expertise across many states in getting non-performing notes to “re-perform” and be sold, perhaps to someone like you.Performing loans don’t require anywhere near the same amount of work or expertise but typically involve a lot more capital per loan.

Do you mean it would need an architect because that's required by the jurisdiction, or because the project itself would need an architect's expertise?

Being able to use real estate to offset taxable income requires some sort of participation on his end.If he wants you to be the boots on the ground, it will likely be hard for him to reduce his taxable income.

For a 3-4 family home, it's more complicated—you're looking at commercial lending, which requires a large upfront investment, high holding costs, and greater risks.

First off, the cash-out refinance requirements have gotten tighter w/ the "seasoning" period.

@Eric Smith A 1031 exchange with a related party is possible but comes with strict IRS scrutiny and holding period requirements.