@Matthew Morrow, I am a little curious on how you are involved on the deal and what your relationship with this client is?  

You are possibly setting yourself up for immediate failure.....there are too many moving parts and too much money involved to mess up this facet of the project.

A common strategy used by investors, such as those operating through PadSplit, involves purchasing the property, completing basic rehab, refinancing, and then using cash for the interior build-out.Another potential red flag, even without converting common areas, is the addition of individual locks on bedroom doors.

@Jonathan Cooper - Sounds like a short-tax year is involved.

Don't get involved at all in domestic violence - who stays, who goes, taking sides, etc.

The STR is a lot more work and even if you get a manger, you may have to be involved.

Structuring a 203(k) loan for your partnership involves some creative thinking, but it’s definitely worth exploring.

There is not enough meat on the bone to involve an agent or an attorney.  

No lawsuit against you can deny the fact of bounced checks. 

I don’t know of any other opportunity where you can net $10-20K (in some cases even higher) per month on a single residential property.There’s usually plenty of room to bring investors in and everyone involved still win, even in todays higher interest rate environment.Financially, residential assisted living is usually a more cost effective option for families than alternatives.