I think the before vs after pictures really speak primarily to your experience and ability to execute a project so it can help lenders gain comfort with future projects and allow you demonstrate what level of detail you except out of your contractors.

How do you gain more confidence as an LP? By reviewing sponsor after sponsor, and deal after deal to uncover what sets apart the good from the bad. 
We want to help you get more of these reps, and we're excited to ki...

I like the idea of using a HELOC for value add projects where you can refi in 12 months to pay back your HELOC.

I'm an experienced project manager with hundreds of cradle-to-grave efforts under my belt, including building project scopes and budgets, evaluating contract proposals, and managing construction to maintain the delivery of high quality products on-time and in budget.Penny is a licensed clinical social worker (LCSW), serving the community mental health needs of parents, children and families.We both recognize we have an immense opportunity to serve our community and want to capitalize on the blessings we have been provided so that we can continue serving our neighbors.My wife, Penny, and I are looking to transition into commercial multi-family real estate in 2025.

The primary risks at this point would be       1) to your lender, the risk of a margin call.       2) To you; underestimating the true cost of a project and cost overruns      3) To you; legal risk of securities regulations if you partner looses money. 

I was overwhelmed with projects at the time but paid $35,000 and sold two years later without any improvements for $125,000. 

However, as we delved deeper into the project, we realized that a complete remodel would be more beneficial.

I very much appreciate the honesty around the current state of the market in the area and I will make sure to adjust our projections accordingly.We are excited to start our journey and looking forward to contributing to the BiggerPockets community.

What is the current return you are getting and what are the projected returns or plans with it, etc?

Time Commitment - Basically if one of you spend more time on the project than the other they should be compensated for that time.