@Mike H.I completely understand what you are saying about those that don't use an over all 10 year pro-forma business Plan with an IRR project need to be consistent in their strategy mainly because there isn't much else calculations like Cash on Cash Return calcs will let you do, then you can ignore the fact that it's the INVESTOR that cash flows the Investment.BUT, when you use a comprehensive 10 year pro-forma IRR Projection business plan, there is NO set Strategy other that what IRR number will you pull the trigger because EVERY strategy can be modeled.That's the whole Beauty of the IRR!

Much appreciated.Respectfully,Matt Columbus has a great network of investors, agents, and a very unique position form a national scale.

My real estate experience is focused mostly on the financial and pro forma side, so I live in those spreadsheet :)

I would form a new LLC for the both of you to own the property.

Introduction: Real Estate Investing can be a lucrative venture, but deciding whether to go solo or form a partnership is a crucial decision that requires careful consideration.

You do not want to form a partnership trust, so each IRA would need a trust and they could then hold title as tenants in-common.  

., to see if you can form a team too.

How does this impact the pro-forma and budgeting leg of your acquisitions & bookkeeping workflows, respectively?

Hello Taryn,Have you considered securing hard money for short-term use to complete the apartment scope of work and then refinance for a conventional loan either based on "As-Is" (pro forma market rents w/ no tenants in place) or "As-Stabilized" (fully rented) condition whichever the lender will allow?

Do you have a reasonable pro forma drafted that you can use to analyze deals?