What are your investment goals and can you achieve the same results with other asset class?

Renovation costs would need to be financed separately.Private Lending or Hard Money: Use a private or hard money loan to acquire and rehab the property, then refinance into a joint long-term loan.Seller Financing: Negotiate terms directly with the seller for a flexible financing arrangement.Final ThoughtsUsing an FHA 203(k) loan for your first property is a smart move, and with the right partnership agreement, you can still achieve your 50/50 goals.

Quote from @Himateja Madala: @John Underwood with 6bed/6 bath I am targeting more multi family travelers who prefer staying together.

However, consider the higher interest rates and make sure the rental property you’re targeting can cover those costs.

Brakes.Learn about real estate investing so you know what your first target is.

This shows that perspectives vary depending on the target audience.By the way, your comment about me being an "exception" caught my attention (thank you for that, I’m flattered!).

@Tim Swierczek, my current plan is the target $10k/month from paid off rentals.

Right now, we’re seeing a slight increase in inventory and some corrections in rents, which could create opportunities—but achieving solid cash flow on a condo can still be challenging.Getting pre-approved is a great first step to narrow down your options and focus on locations that make sense for your goals.

We target insurance and corporate bookings as well as travel medical professional agencies. 

The experience reinforced the importance of working with reliable partners like Billy Medlen and focusing on targeted improvements that maximize a property’s appeal and profitability.