I'm sure your relatives can get you going.

If there is a PM specifically ask your relator to get in touch with the other relator or PM and see what they have in terms of expenses. 

Man.Just make your relative take title to this property in an entity and structure this as a business loan.

I don't think there is any reason to stick your neck way out there by tapping all the equity in your relatives house.

Now, your relatives may not really understand the rehabbing business.

One of the humorous chapters at least to me was what happens if U perish there.. well no refrigeration so they put you in the ground in a matter of a day or so.. so the point was make sure your relatives know they are not coming to your funeral at least as it relates to how we handle the deceased here in the states.. 

If your relatively young and your roommates are good buddies I wouldn't worry about them moving out.  

You have to be cautious of partnerships in real estate.If your relatives are watching you and want to partner with you instead of trying it on their own, there is a very good chance that their idea of a partnership will be that you do all the work and they will sit back and take their cut after doing nothing.

@Keith McKenzie technically your relatives need a real estate license to act as your property manager. 

Sure.The bottom line, I suppose, is that many times there are some elements of truth in a projected pro-forma, some elements of truth in a T-12, and your job is to figure out what your "relative" truth is for the property.