I found an area I felt comfortable living in and I bought a house with an FHA loan.

My favorite was a hoarder house full of trash that took me six months to turn around, but it turned into a killer deal that earned me a 600% return.

We want to detail the responsibilities, capital contributions, profit and lost sharing percentages, decision-making process, have dispute resolution methods, and exist strategies.

House needs some Interior Cosmetic Work, Wood Fence Repairs and some Plumbing Work.I want to turn and run, but I recently heard where there is a Problem, there is Opportunity.I thought this might be an interesting Case Study.Thanks for the Ideas.If they owe $180k on a $210k property and its a year+ behind then they probably owe taxes and other bills as well.

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

Showing houses 30 minutes at a time counts.

If you walked into a bank, your pre-approval would likely never qualify for a house hack duplex.Did they count 75% of the expected rent towards your DTI? 

My plan for this year is to remodel and upgrade the house to then put it to cashflow either via short/long term rental.

Shared housing provides affordable, flexible rental options for young professionals, remote workers, and students.As shown above, co-living properties have more demand than traditional two-bedroom units and appeal to a wider tenant base.2.

So the line is a shared private line between the 8 houses.