When the houses were just acquired it usually took me two to four weeks to get a tenant in them though I had some that were rented prior to make-ready and renovations being done, that's happened a couple of times.  

Renovation costs would need to be financed separately.Private Lending or Hard Money: Use a private or hard money loan to acquire and rehab the property, then refinance into a joint long-term loan.Seller Financing: Negotiate terms directly with the seller for a flexible financing arrangement.Final ThoughtsUsing an FHA 203(k) loan for your first property is a smart move, and with the right partnership agreement, you can still achieve your 50/50 goals.

The good news is that these properties can indeed be purchased for various investment strategies, including rentals, BRRRR (Buy, Rehab, Rent, Refinance Repeat), or fix-and-flip projects.Purchasing as a Rental or for BRRRR:You can acquire a Freddie Mac home to hold as a rental property or implement the BRRRR strategy.

Anywhere in the world.Purchasing a property in Mexico was a long, yet valuable experience because of what you learn in the process.Now we are acquiring more in Mexico because of the value you can purchase for and the income that can be generated.

Acquire enough RE that it takes you or your spouse more than 750 hours a year and 1/2 of your time to manage.When you are a material participating RE pro all of your and your spouses’ RE activity becomes active, allowing you to offset RE losses against other active income.One pitfall of a RE Pro spouse if you are full-time W-2.

Quote from @Kris Gardner: Sept 1st, 2024 I acquired a duplex in Ohio.

Quote from @Chas Lumley: Hey all,I'm looking to make an offer on my first rental this week and was wanting to get different inputs on LLC vs Umbrella policies.I will be using a conventional loan and I was told by my loan officer that I can not buy the property under an LLC, but I could transfer to an LLC after acquiring. 

Quote from @Jamie Banks: @Jordan Alexander I'm taking a creative financing course now and I'm learning that a lot of investors pay the mortgage that they acquired after the sub2 deal closed from a servicing account. 

To summarize the position I'm taking in this thread (and the impression I have gotten from Tyler's series of posts and also from your original post and response to mine), though the first purchase acquired from Morris Invest may have been imperfect, those experiences are areas for improvement rather than reasons to flush future opportunities down the drain.

In my experience, the General Contractor usually acquires the permit(s).