We have a savings account where we split up into different buckets (from our w2 and passive income) and one bucket is for real estate and when we have enough to acquire another asset we will consider it.I am not a fan of borrowing 100% of the transaction costs including closing costs as it will be extremely difficult to make money many times on those types of deals.

Unjust enrichment is an equitable remedy.

Quote from @Kris Gardner: Sept 1st, 2024 I acquired a duplex in Ohio.

When the houses were just acquired it usually took me two to four weeks to get a tenant in them though I had some that were rented prior to make-ready and renovations being done, that's happened a couple of times.  

So we often have to remediate this and touch paint.

Renovation costs would need to be financed separately.Private Lending or Hard Money: Use a private or hard money loan to acquire and rehab the property, then refinance into a joint long-term loan.Seller Financing: Negotiate terms directly with the seller for a flexible financing arrangement.Final ThoughtsUsing an FHA 203(k) loan for your first property is a smart move, and with the right partnership agreement, you can still achieve your 50/50 goals.

Purchase price: $28,000 Cash invested: $47,000 Sale price: $110,000 Contributors: Peter Vekselman Partner Driven, alongside our partner Billy Medlen, acquired a home on Raymond St, Richland, MO, for $28,000 on 02/20/2024.

@Matthew PosteraroIt comes down to how much capital do you have to allocate, and how many units you are looking to acquire with your capital.

Locally, I look forward to soon having my VA loan seasoned to refinance and fully rent out, and acquire another property. 

I rebuilt it in 2005-2006 and did a total rehab and massive mold remediation.