Those payments are wrapped into the loan amount (which barely affects your Monthly payment in general) but saves you a significant amount of out of pocket cost during the rehab.

Barely better than throwing the money into an index fund long-term...except I get more control/upside here. 

He left just barely enough room between the back doors and the drawers to fit his normal water tank size he has to transport.

If they are able to pay rent with 4 kids, her losing her job and her husband 'barely working', they are doing pretty good. 

The house is barely visible from the street (the corner of the triangular property touches the elbow of a right turn), but what's visible is piles and piles of stuff. 

How my friend has it setup is the bare minimum,  preferably they're covering the rehab cost or at least putting in $X of cash towards it so they have something to lose. 

Running NumbersAt a bare minimum, it's important find a realtor that generally understands the numbers, but it's even more helpful to find a realtor that will take the time to sit down with you and run the numbers together to ensure you know exactly how the financials of the deal look.

It would need to rent for at least $2000/mo, and that's the bare minimum.

The problem: I barely have capital.

I am the one doing most of the work (which looking back, I'm a bit annoyed with myself that we own the LLC 50/50 when he barely did a thing).