Lastly, develop a clear business plan outlining your renovation budget, project timeline, and profit targets.

When underwriting the deal, just make sure you have the two exit strategies available, flipping for profit or refinancing and renting for cash flow (outline what metric you are after for the cash flow side, meaning what cash on cash return or whatever metric you are looking for).

**Loan Agreement:** The borrower and lender enter into a loan agreement, which outlines the terms and conditions of the loan, including the loan amount, interest rate, repayment schedule, and any other relevant terms.3.

They may be able to finance you at a low down payment if you have experience, reserves, and FICO as long as the 65% of the value can support the entire purchase price  I wasn't saying 0 down, but the concept of full return of capital. 15% land purchase cash. in columbus land is let's say 50k we build a triplex for 350k which is very close to 15%. small entitlements, reserves required, etc whatever lender asks for. multifamily sells for 200k per door in our market over 4 units, we are pushing the values up. first ones we are working on because of rezoning, etc but it's a full refinance on 6 month seasoning and do it again. that's the scenario that I was outlining. we do it in the urban core of Columbus where new construction trades at $325 a square foot or more for higher rents and higher equity. we could still put more units per parcel in columbus. these are all infill I hate Lehigh acres. overbuilt, no infrastructure, no commercial drivers or asset.

Here is the city's page that outlines the RTLO, and has a link to the complete document: https://www.chicago.gov/city/en/depts/doh/provdrs/landlords/svcs/residential-landlord-and-tenant-ordinance.html. 

Your brokerage would have to allow it as well, would most likely be outlined in your independent contractor agreement. 

@Viral Mehta While self-management is definitely feasible, it does come with its own set of challenges, especially when managing from an international location with significant time differences like India.You’ve outlined the major tasks well, but there are a few additional considerations:Vendor Relationships: As a property manager in the Dallas-Fort Worth area, I can confirm that having established relationships with local vendors can significantly impact both the cost and quality of maintenance services.

So basically, to know if you are getting less return than the direct to Rise48 people, Spark would need to disclose their arrangement with Rise48 and you would need to look at your own subscription docs with Spark to see if they outline their own fees and carried interest.Although, I can speculate with pretty strong certainty that you are receiving a slightly lower return than direct to Rise48 investors.

So I decided to do a letter of intent outlining the deal I would like. 

From there you can calculate approximate cash contribution from money partner and outline your responsibilities as the operating partner into an operating agreement or joint venture agreement.