You can talk to the bank about a loan; however, my bet is they will want some form of contract and scope of work and will only pay him at set milestones.

(Government will set cybersecurity standards, but then are rarely enforced). 

@Nicholas Stout S8 rents are set by the number of bedrooms, that's pretty much it.The HUD guides are just that - guides!

We are set to head back to Kyoto in a few months to start prepping the property ready for guests.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

It’s humbing and frustrating, but it also teaches you those guardrails you’ll want next time.. like thorough screening, a solid lease agreement that sets ground rules upfront, and maybe even setting aside a bit more cushion in reserves.Chicago’s got plenty of investor-friendly pockets.

The cash on cash number is what I liked about it and I think the Capex will not be a big factor because of the Tenants already are there and have been there and want to stay for long term so vacancy was set lower.

At a basic level there is no one set way to structure a partnership.

I’m just taking it one step at a time, learning as I go, and trying to set things up the right way from the start.

As I said earlier, this is strictly for investment purposes.The property does not have to be turnkey, if there is room for improvement that's of no concern as we both have the skill set to invest in whatever upgrades are required.