Even though you’re not fond of DSCR loans, it might serve as a bridge to free up your line of credit for quicker flip-and-reno opportunities.I remember years ago, a close friend of mine was in a nearly identical situation.. from what I read in Forbes, he ended up with zero wiggle room each month.

These repairs are through a contracting company owned and operated by the PM. 

. - https://therentalgirl.com/tichttps://andysirkin.com/tenancy-in-common-tic/operating-and-m... - https://www.stonesalluslaw.com/tenancy-in-common-in-californ... - https://www.investopedia.com/terms/t/tenancy_in_common.asp - https://www.rocketmortgage.com/learn/tenancy-in-common - https://www.allcalifornia.com/tenancy-in-common - https://andysirkin.com/tenancy-in-common-tic/guidance-for-se... - https://www.dre.ca.gov/files/pdf/tic_guidelines.pdfby the way I received a lawyer referral who is supposedly familiar with tic in California.  

Using avantstay for a rental management company caused me to LOSE an average of $6711 per month as they were not able to provide enough rental income to pay the mortgages or operating expenses on the two vacation market houses.

But the "art" really only comes with time in market and a deep understanding of both the market and the operations of assets.

In this case, you would draft an operating agreement that specifies each partner's role—your friend providing the cash and you handling the rehab and management—and that profits and ownership are split evenly.

When I contacted MFM, they told me to direct my complaints to Prime as they operate independently of them.

You also need the operating cash to do rehab.I say this because you mention FHA and low money.

When you do the turnkey offerings to completely new investors like that, you're going to end up working with a lot of inexperienced investors who blame the turnkey operator for things that are a normal part of the property management business.

A good friend of mine once dealt with a similar setup in Philly.. big steps, narrow frontage, and enough snow to give tenants an excuse to skip shoveling alltogether.