I am never looking for a sure thing as I don't really think they exist but I don't want to get into something that I am not sure how it will look in 3 or 5 years.The only way I would look at this deal is if it is perfect for getaways and relaxing for me and the family and anything I made would help pay for those experiences.

Just bought a $60k home that we'll put $50k into and have an almost perfect BRRR.How much are you looking to make to "supplement working full time" and then work backwards.

And it should be a perfect job or the rent is 3200 a month.

In a perfect world an assignment (like @Chris Seveney suggested) would be recorded with each transfer of the note but in reality that does not occur.

Perfection is not a place, it's a process. 

Fact is St Paul is the grand champion of idiotic political actions to tank a city/market.

Starting small with solid fundamentals and not waiting for the "perfect" deal was key to getting started.

I completely agree with the advice and I'm perfectly okay with not charging him rent.My concern is that by treating this property differently from all the other units in the Series LLC, I may be opening myself up to a situation where I'm weakening my LLC protections even if I keep the financials separate and in order.

Maybe it's just me though......But you don't have to have your equity working for you perfectly every second of your life.

Or any tips for mitigating risks when market timing doesn’t align perfectly?