Winter is tough in a lot of areas.  

It would be tough to rely solely on our own funding.

Most material pricing, especially lumbar has come down tremendously from the chart he is using to show the increase.

And does the person doing the labor get paid or only the materials paid for by the partnership?

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

Not sure about MTRs.My general conclusion was that it is tough to do business in the town if your goal is to buy property as pure rentals out the gates and no intention to occupy.

Wow, that’s a tough spot, and it really sounds like you tried your best to meet them halfway.

I'll admit yes I did, but only in a couple of situations, it is just so tough the way our system is set up....so you can call me a hypocrite if you like.5) And here is an 'outside the box' idea I've had for a while now - everyone says - "we have to let them all in, no one else will do those jobs".

Obviously tough to give advice based on minimal info and no info on your personal situation.

Hey @Brad Roche - We do a significant amount of renovation loans (both Fannie May & FHA) here in Chicago and prefer the Homestyle loan only because it's less stringent on the borrow about what they have to repair, and they provide the general contractor a material draw at closing which helps the project start on the right foot.I thought the minimum down payment was 5%.