For example, you might agree to a 70/30 or 60/40 split, depending on his level of involvement.

It ends when they AND their stuff is removed to the level that allows you to begin the re-rental process. 

If it's already turnkey that means you're paying higher rates than necessary when you could put 20% down and get a DSCR loan with lower rates and fees. 

At a high level, the system ingests raw documents from the recorder's offices, building permits, zoning permits, market data, and other auxiliary datasets.

By investing in metropolitan areas your yield would be lower (6% to 7%) but you would have a lower vacancy rate.

In this market, I would not finance a first time flipper at 75% profit split because the profits and success rate is lower than the last dozen years.  

As more people placed more properties in STR inventory, and as more municipalities taxed and regulated the industry, the profitability of the overall industry has reverted to a much more aligned (lower) risk adjusted return.  

I've had smooth loans close with Kiavi and I've had rough ones, same with Roc.When Loans start to be troublesome:1) The borrowing entity docs are a mess2) The appraisal numbers are lower than expected3) Messy background reports4) Loans happening in an environment where market/rate fluctuating unpredictably 5) Your loan officer and their team are poor at their job6) Title issues that depend on county docs, that can be slow and painfulThere's more but it's Friday and I'm tired....

Not just the safety point but the maintenance level it is way too much work.

When they do, you can refinance to a lower rate.Dealing with current high interest rates (about 7% on 01/27/2025) you have the following choices:A larger down paymentAccept a negative cash flowBuy down the interest rateCombine and balance all three to get an acceptable cash flow today.