You will pay a higher interest rate from a lender than you will on your LOC.Neither of these funding resources are designed for long term debt, you'll want to have an exit strategy.

And to expand a little further on Frank's cap-x comment, during the last recession there were plenty of apartments with 20% vacancy or more, simply because the ownership didn't have the resources to do the capital improvements necessary to attract tenants. 

The 2nd floor has 4 bedrooms and the house and our design theme is very farmhouse chic.

My managing broker and my girlfriend will be doing the entire design/layout themselves, keeping this in house.SUMMERY: Managing broker is the bank, I found the deal and will be run the entire remodel myself, managing broker will list/resell property at the end.So what do you all think would be a fair split/breakdown of profits?

He's retiring, so a lump sum and a steady income that involves no obligation to property would likely be very attractive.

The firm has had MHC as its top performing property type for the last year and a half and a November 2018 report described MHC as “one of the most attractive property types in both the public and private markets due to 1) a best-in-class cap-ex profile; 2) structural barriers to new supply; and 3) still-too-high nominal cap rates.”I hope this helps those considering investing in MHCs - happy to discuss further.

Nick Love - 05/29/2019I am starting a discussion about attracting passive investors through marketing platforms and if anybody has had success in this field of raising capital from advertising.

@Travis WalkerOn a side note I don't really get the attraction to single family rentals versus multi units.

Federal Fair Housing Act says: In buildings with four or more dwelling units and at least one elevator, all dwelling units and all public and common use areas are subject to the Act’s design and construction requirements.

IMO these need major rehab work and are only attractive in "hot" areas where flippers can turn around and resell them for $100k+ to retail buyers.