How would the tax computation work out on a 30 year note?

@Jacob RossTwo answers for you- more times than not - equal partnerships don’t work out nearly as well as going it alone.  

Going the DSCR route will also not work since he will be subject to a PPP at the time of refinancing into a primary loan.Putting a tenant there for a year and then anticipating to move in after a year may not also work out depending on the states Laws regarding this. 

I have had a couple of opportunities to market similar properties time on the market, desirability etc and having a sharp property with decent ceiling fans helps.I think it depends some on the property and the target audience as I have investors with lower priced multi-units with no fans on purpose that work out very well. 

Short-Term Commitment: You're involved in the property for a shorter duration (typically months to a year), which can mean less exposure to market fluctuations but requires intensive management during renovations.3.

Im a Realtor too so I just pulled in the driveway and talked directly to the owner and it took a few months but I was able to keep in contact and work out a deal.I learned A LOT about the importance of vetting any professional/contractor (and verifying any proof they provide) before they start any work.

Section 8 can be successful and to be successful, multiple is better so you learn and perfect the system for the area, but it can be very hard from afar and very labor intensive on the landlord side.

Cah out can be used as an asset and for PITI reserves and a Heloc can "Never" be used as an asset or PITI reserves.I generally work out the options for my clients to compare a cashout to a Heloc so you can see payment to payment, overall costs and rate.

At the same time, try to work out a cash for keys deal.

I would side with your wife on this one, I typically tell people to stay out of AC, Trenton and Camden or any D area especially if you're new those properties are very labor intensive