Originally posted by @Jerald U.

your great deal and idea someone else's money.. which is in reality all your doing when U borrow money.. in this instance you don't borrow it you do it together and the JV partner expects a better than normal return.. its how U scale Its how I scaled and how I still do today.. 

@gennagolden can you give a brief description of the type of loan u were able to secure from the SBA

HOW WOULD U DO THINGS DIFFERENTLY?

To begain with. a lot depends on how long that u have own  the house to  start with .

In dealing with junkers (house needs work), If I were u, I will not even go see the house first.

Depends on your status if u pay rent on time each month you may get a 1.5% cash back from your rent and I say "may" because the reward is a rotating category that changes month to month sometimes its cash back sometimes its a dozen of bagels sometimes its a 20 pack AA batteries.Uhhhh...ok...I was joking, relax... :)

I would NOT suggest u buy a home there for$100k+ to rent for $1100 - cash flow loser.

U most also consider that apartments have higher average turnover (tenant) rates than do sfr's.

[u]As Bill Gully and others have written, there are also other issues.