Jim doesn't carry that burden which is great.

I’m reaching out to this knowledgeable community for some guidance as my partner and I embark on our real estate investment journey.Our Situation:Partnership: We are a partnership of two individuals.Current Income: Both of us have W-2 income, which we carry a tax burden.Goals: Our primary goal is to replace our W-2 income within the next 5 years through strategic real estate investments.

Quote from @Jay HinrichsI carry trash bags in my car and every time I visit a job site or meet one of my clients there, they get handed one too. 

You would want to avoid a DSCR refinance right now for cash-out as those loan programs will carry prepayment penalties - refinancing post-rehab to get your equity back out of the property (based on improved value) would leave you paying an extra prepay penalty. 

"I am not a good lender for this program, you should go to..." or "that seller carry on a residential transaction is not actually possible in the lending landscape of today" etc).3) Better rate, wrong program. 

You should also add 1-2 months of lost rents due to repair time and marketing to find a new tenant, and your carrying costs (prop taxes, insurance, utilities, mortgage, etc.) to this amount.How many months will it take you to recoup that amount via the higher rent amount versus whatever increase the current tenants agree to ($1150 - $825?)?

We make a lot of cold calls, but follow up and nurturing leads is where we lock up most of our deals.

We should have put a renter in the property to cover the carrying costs of the mortgage but the investor wanted the property sold and a tenant can make that challenging so we continued reducing the price until there wasn['t any profit in the deal.

What are some realistic numbers on upfront $$, creative financing, carrying costs, etc?

My friend Carrie, Victor, Daryl, my sister, ex-brother in law and my father in law have all lent us money to buy and rehab properties.