Cleared a home-site, put in a driveway and some other site work with cash. 

Fees should be clearly stated, easy to understand, and justifiable.

My FIL and I have a great relationship, but I would certainly makes things clear and on paper first.

Good AfternoonLet me first start by saying im a first time investor and have begin dipping my feet in to the investment world, I purchased a property near a college that the numbers seem to work and would make a good student rental, I thought that purchasing the home with cash and free and clear would be a good option and to work the refinance for the repairs and upgrade to the home, its not going to take much but there in lies the rub!

I'm talking about for my personal residence by the way, just in case I didn't make that clear.

Clearly the OP's investment strategy will depend on their goals beyond remaining as passive as possible.

i have just bought my condo in atlantic city, I have been renting 5 years. do i need certificate of occupancy  if i been living here.the building 1927.it was inspected 2018 by city and cleared. i have all that is needed fire alarm co detector etc. sales is done, and then they ask for one, it was a cash  ( no Bank ) as is sale no realtor .  

Using round numbers:Property value - 100kYou buy with a mortgage at -50kBank will only loan on 75-80% so the most you will be able to cash out is 30kIf you own this property free and clear, you can borrow up to 80k in the above scenario.

They clearly had two problems: very low value and six older couples owning the property.

Hope that was relatively clear if not feel free to message me and we can talk about it more specifically.