I am in contract for a duplex in Grandview where I plan to live in one side and rent out the other

Hey @Eric DeNardo If you don't get a quick enough response from others on this forum, I might reach out to Shannon Weinstein via LinkedIn: https://www.linkedin.com/in/shannonweinstein/.

If you just take the 13,835 financed at 6% you are adding 83 dollars a month. so a double whammy.Now, lets consider if rates drop to 5.5% in 24 months (not a prediction just a what if) and you could have refinanced at a much lower costs then the above scenario in what you paid in pre-paid and additional interest. on the other hand, if rates for your same scenario after your 5 year payback period is 9, then you will have an asset with a much lower then current market rent.  

The land is on two tax lots so my plan is to sell the extra lot immediately after closing for a projected $275K.The property on the other lot will be a fix and flip with projected costs of $240K and an ARV of $750K.I plan to use a PML of 2 points and 12% APY for 70% of the total cost.

Additionally, trying to spot paint even a white wall with white paint doesn't work, let alone other colors.

Total elimination of all other services.

The property was purchased in 2021 for 1.1 million, was appraised in the summer of 2024 for 2.2 million, and reports from online appraisal websites say it could currently be around 3 million.

He has been alongside me on the other deals so I’d like to give him equity/skin in the game and I don’t know how else to do itQuote from @Basit Siddiqi: Getting a property with a partner / friend will not help you from getting hosed on taxes.I wouldn't move forward - You mentioned beng a high income earner so your hourly rate is very high.

especially since he's closing today on a fed reserve holiday...but hey, "the other guy's offering a better rate.."

This sounds like a development, so you and your team should have years of experience and a track record of success before you take other peoples money.