A lot of great beneficial information and and helpful partnerships to be made here.

However, I am also entertaining the idea of starting out buying a rehab, fixing it up, and flipping it in order to increase the "starting capital" of the partnership which can be used to purchase rentals.

But no one would ever ever ever buy a home in that neighborhood for $75,000 it's purely a function of what it would cost to rebuild and has nothing to do with the appraised value which is $50,000 tops.

I have a little bit of background in tax but not much beyond 1040's and basic partnership and corporate returns.

Texas for example requires an escrow fund.Two loan servicers that have been around a long time that service consumer accounts including mortgages and contracts are Green Tree Servicing LLC affiliated with the Walter Investment Management Company that also has servicing functions.

Joe Gore It is a long and contorted road from an apartment complex in Nashville to the partnership we setup decades ago and the trust I originally created in the 1980s.

Many factors play into determining value, not many comps would have such a facility, the style as adapted to the home is considered, the functional utility as a residence may be less as well.I'd first call your zoning people and see if 5 or 6 kids requires a zoning variance.Having daycare services or other business activities in a residence is possible with conventional loans, but you can cross the line depending on the perceived liabilities of a business, any significant modifications to a property, public access and other aspects can cause financing issues.

Finding the value is accomplished through the functions of the appraisal process, more to comparable sales and the income produced.

We use it as a partnership for tax purposes (pass-through).

AppFolio doesn't have all the functionality we are looking for and others don't either.Thank you,Julie