This is what we have determined...The current amount owed to Chase on the property is 800K and strangely they are listed as a second lien to 1st Mariner which makes me certain that there is an error in the records because Chase believes they are first lien-holders.

You provide cable internet and utilities they pay one check for living you collect 2-4 times the rental income.

More than anything though, I am asked to determine what failed to allow the mold to grow.

Another powerful internet resource at your fingertip with multiple uses.

He paid for all things, utilities, cable, garbage, water sewer, internet, maid service, lawn care.

And until I get a home, I'm paying 650 a month for all living expenses (housing, food, internet, utilities).

Your partner deferring payment until the prop sells is perfectly fine and makes sense to mitigate the risk of running out of money (which would necessitate borrowing from a party that is not disqualified, or selling project "as is", likely at a loss).If you had personal cash, you could also partner with your IRA on the front end of the deal (take title in both names), at a predefined % split.Be aware that flipping profits in IRA accounts are potentially subject to the stiff UBIT tax, based on "intent" to flip, which would be determined by the facts of a given case, as well as pattern of activity.

OTOH, if you're determined to live the high life in LA or NYC, you need more income.

I feel like it would be way easier to more accuratley determine fair market value of homes, avg rent in the area, etc...with a realtor.

You alone must determine the paths and rewards you desire.Early in both of my mentor’s real estate careers, they chose to invest in residential rental properties.They expressed to major pitfalls; 1) too much reliance on a single target market, and 2) not fully considering all the associated costs prior to making an offer and ownership.Example of a single market; dependency on military tenants/buyers.