Outsource tasks like admin work or cold calling to virtual assistants (VAs) to free up your time for more important tasks.3.

For example, you could create a weighted structure where a percentage of profits is based on cash contributions, and another portion compensates for rehab or management efforts.Rent Payments and Tax-Free Profits:If you structure it as an owner-occupied property, the rent you pay could be shared proportionally, but tax-free gains on resale may only apply to your share, as you’d be the owner-occupant.

The BP function allowing you to check references and actually talk to real clients of those QIs is a great advantage.

When will the government wonks realize it is hard to force the free market to solve a problem they helped create?

Start with BiggerPockets Ultimate Beginners Guide (free).

So you need to check with the zoning department about non-owner occupied and how hard it is to get the variance.

If a Designer or Contractor is proposing to remove a wall and does not think to check the structural integrity of said wall, then they are no one you should be dealing with.

That said, Detroit is very much a block-by-block city, so local knowledge is critical to avoid issues.If you’re serious about learning more, feel free to send me a DM.

What if the person staying at your place signed a contract but their 1st payment check bounced.

Feel free to DM me for the information.