Do you mind sharing the benefits of using a hard money loan as opposed to private money?

But mostly keep in mind that any property you find the local landlords already know about and did not desire it.

I encourage you to come with an open mind to new concepts.

That's on me, my other properties are in good shape, this one was always out of mind.

Hello Wesley, do you mind sharing the name of the RE tax conference you were referring to?

Converting the partnership into a Tenancy in Common (TIC) could work, but keep in mind this requires dissolving the partnership structure and redistributing ownership, which may have tax implications depending on how it’s handled.

Keep in mind it’s more than likely most of the competitive banks these days for real estate investing may not be local!  

There are a couple of things that come to mind, if a payment is missed the lender cares, if the servicer goes out of business or misses a substitution of trustee, the lender cares, if the borrower goes to the lender to try to get removed from the loan (usually to buy another house) the lender cares, if the property gets caught up in a bankruptcy or divorce, the court cares and that means the lender gets involved.

Quote from @Torianne Baley: Hi George,Do you mind sharing the lender you found who accepts the 500 credit score and will loan $300k There are lenders out there but the risk is very high so your rate will be 13-15% plus the loan to value will most likely need to be less than 60% (or even 50%).

Just need to stat under the occupancy limit.Also keep in mind basement needs to be livable square footage, ie have egress and proper ceiling height.