It is worth noting that this is a completely different product from Sean's.

My number one piece of advice is finding a group that you can attend online or in person to keep you motivated and accountable to your goals. 

It sounds like a single family house where you will be living in the house(personal use).Therefore, you may not be getting the tax benefits you think you are.Consult an accountant.I am not sure why your sister would agree to this as well, she is losing $170,000 in this transaction and she faces the possibility of you increasing her rent.You also have to charge market rent or close to market rent or it is all deemed personal use.

Hey Account Closed - I highly suggest  using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.

Quite the opposite - I invest my personal money as just one more member, in each investment we end up doing as a club. 

If you are a person who has a full time job, or runs other companies, it is my professional opinion that you will be better served having the GC handle everything and report to you on your schedule.Once you decided to run the operation yourself, you are now employed by the development.

Personally I consider it to be more of a entry level neighborhood for first time home buyers and a blue collar neighborhood for long term renters.

I had no idea what Ayn Rand was writing about was a REAL person: Frank Lloyd Wright.

He would also be exposed to liabilities related to the property, such as lawsuits or property damage claims, which could affect his personal assets.

Personally, I used a business credit card to fund a BRRRR deal, securing over $90K in credit with just an LLC and a solid credit score.There are many creative financing strategies available, so don’t let capital be a barrier.