I’ve always believed that if the lender is a “partner” sharing exposure and not an at cost money provider dividing the profit of the deal into three sections is appropriate   MoneyMarketingManagement This said it’s not unreasonable to allow a minimum return after “X” profit.  

@Kenneth YeThis is a high rate with high costs in the current market. 

The best way to manage it is to use a property management system that sells it as part of the leasing process.

This is key to keeping your costs down.

Do not want to put anymore capital such as a $140k cost of foundation further putting us in the red so considering selling this money pit as is or holding on for creative ways to make this house profitable.

The cost will be more expensive and the LTV will be limited because of the risk if you decide to go the PM option. 

I'm currently a project manager at a telecommunications construction & engineering firm, mainly managing the implementation of new software for our crews.

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You'll benefit greater from the appreciation and loan paydown in the long term and in the short term it's not much more to manage a duplex/triplex compared to a single family if you're managing yourself.In the end, I would give yourself a few months to talk and deliberate, but the best way to get going is to start looking in an area and look at 100 deals in that area.

My ultimate goal is to build a real estate portfolio that provides financial freedom, something I can manage passively on the side until it eventually surpasses my 9-to-5 income.Thanks everyone!