How much risk do you carry vs them? 

However, passive loss limitations apply—if your AGI exceeds $150K, you may not be able to deduct the full loss in the current year but can carry it forward to offset future passive income.Future Considerations: If the property generates taxable income in later years, Kansas allows a credit for taxes paid to Missouri, but since you’re reporting a loss, this doesn’t apply.

Freddie has a reno loan product that can be used for investment properties; this is only for first position, though.For the Heloc - it goes back to whether your mom wants to continue carrying the loan for income, and if so, how will you pay off the heloc once the rehab is complete?

If part of the property is rentable while renovations are happening, that could help offset carrying costs.Given your construction background, you’ve got a huge advantage in managing the project efficiently—it’s just about getting through the red tape and de-risking the unknowns before pulling the trigger.Have you talked to any local investors or contractors who’ve tackled similar projects in Wicker Park?

Here are some creative financing options you might consider:Seller Financing – Since the seller hasn’t moved the property in years, they might be open to carrying a note.

., property management companies aren’t legally required to carry general liability insurance, but it’s highly recommended for protection against bodily injury or property damage claims.

Bigger upside, but second position always carries more risk—if the first lender forecloses, you could lose it all unless you can step in.Best move?

Increased revenue and decreased parking demand allowed us to carry income-restricted units as well.We originally planned on spinning it out into a brand, but we never had the bandwidth to do so.Our largest hurdle has been education as most of our tenants are coming in to rent traditional units.Investors did not love it. 

I sold my precious business for 1.5M seller carry.

She's not in great health herself, but seems like she can still carry on a few more years if nothing bad happens.