They’re generally easier to manage and can help you gain valuable experience in property management.When you’re ready to scale up and try strategies like the BRRRR method out of state, it’s crucial to have a strong local network.

One of the most crucial parts of this business is getting in on the right price.

Whether the situation was an accident or not, owning the outcome is crucial.

As mentioned by others, you cannot personally guaranty the loan and the limited recourse aspect navigates that requirement.

Striking the right balance between enforcement and maintaining an inclusive, education-focused community will be crucial to its success.

I don't know but I do not think you would be able to tell if he was good or not since you are so wildly confused by every other aspect of this business.

It's crucial to evaluate how the deal performs with the new mortgage:Updated Financials After Refinancing: Market Value: $459,000 Mortgage Amount (80% LTV): $367,200 Equity: $91,800 Interest Rate: 5% (30-Year Amortization) Assuming after 12months the rate will drop to 5%Monthly Expenses: Mortgage Payment (5% Interest): $1,971 (Now you are paying interest and principals) Property Tax: $260 (assuming has been increased with a 4% from last year) Utilities: $361 Insurance: $104 (+4% Adjustment) Vacancy: $166 (now after 12 months we can assume we have some vacancy at 5% factor on annual rent) Repairs & Maintenance: $166 (now after 12 months we can assume we have repairs at 5% factor on annual rent) Total Monthly Expenses: $3,028Rent Income after 12 months assuming annual rent increase at 5% : $3,323Cash Flow: $295$ per month 😊Long-Term Gains: $5,418 Principal Paydown year 2 (this will increase each as you pay off your mortgage $36,720 Property Appreciation (assuming 8% per year) $3,540 Cash Flow (this will increase as rents rise)Total Annual Return on Investment: $45,678 with just $ $22,789 remaining in the deal.

I wouldn't get my hopes up as he really has no obligation to, but if he sees a $5K item he can offer and forcing the legal aspect would cost $5K as well, he just might go with path of least resistance...The other aspect is you should 100% figure out exactly what the cost for you to take care of your items would be.

There are two aspects to being an investor in a Reg D 506c offering who’s unaccredited and did not provide sufficient proof of accreditation (one could possibly obtain needed docs and in this case the sponsor would be the victim  of fraud).

Any advice on that aspect?