@Brian Ellis thanks for sharing, especially the details. 

@Steven Steward we would need more details to know which is the better strategy.

He has already received a letter from the bank detailing his options.I see.

However, everything else about this property lines up very well, and I want to pull the trigger or move on asap, since I've already analyzed it forwards and backwards.Here are the details:625k PPcurrent monthly income $5,600, annual income after expenses (utilities, taxes, maintenance, repairs) is 46k, which would cash flow after debt service, but not a ton.However.

I guess the only other detail we don't know that may be important is how much down payment they're requiring of you.I'm of the opposite mindset. 

Again, thanks ton on the insight and detailed response.

One of the side-effects of this is new members often ask questions that are the same as topics that have already been discussed in great detail.

@Jason DiClemente$85,000 with 10% down -8,500$76,500 financed at 7% for 20y Tax and insurance = $400 a month $593.10 or 993.10 ish I want a 5 yr ballon loan where you would go to a bank to get a regular loan in 5 years.These are some some of the details.

You should speak with an attorney about drafting up an agreement between the parties involved detailing the profit and equity percentage splits and your accountant will prepare the tax returns accordingly.

My plan is to offer 10% interest to my investors, paid out monthly, take 6 months to 1 year to complete the reno-rent-refi process, and then pay out the investors.I'm not going to go into too much detail on the deal right now, but I will say that i'm very confident in it.