Let me know if you plan to make it so I can let the owner know and he can make sure they are properly prepared.

OOS BRRRs are the devil's juice on this forum, but if you set yourself up properly with contracts, etc., you will come out on top just take a bit longer so you need to underwrite that in mind.If the former, I would do a combination of fixed income, private lending, and note buying and trade the arb.

Consider consulting a CPA and attorney to address tax implications, liability, and ensure proper documentation for your multifamily investment partnership.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

you have the proper team, go for it you can do this. best of luck and if have any questions let me know.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I don't believe you would properly replace the debt in this situation.

It also will help you a lot to learn how to properly calculate ARV as your buyers will want to work with those wholesalers more than one who is just throwing properties at them.

(by the way if I don't have the $1000 up front he will let me pay in 3  installments that add up to 1287?

I want to stop being pennywise pound foolish and get things set up properly.