From the sellers perspective, someone offering a 4% rate note should expect to offer a greater discount than a seller offering a 10% rate note of similar quality. 

I wholesale in 3 states so I get to see the perspective from a couple different markets.

@Jenni Moore, I'm speaking from a theoretical perspective, as I have not done this type of renovation, but here's what I understand.

From my own perspective the prospect of Brexit is an empty threat to a happy future as a second homeowner in Spain to both existing and future property owners.

Great thread and a lot of very useful information and perspectives here.

Maybe (e.g. huge potential just bad management)orMaybe not (e.g. there is mold issues in the vacant units)You need to look at every deal from the perspective of:1) what's it worth today?

Sorry for the long post, but I wanted to give you my perspective.

If the 2 partners with strong financial backgrounds can each qualify for the entire loan from a debt-to-equity perspective, and assuming the property has solid financial projections, it may take a full joint & several guaranty for the entire loan by the 2 partners (in addition to the third partner, which may not hold much weight from a credit standpoint but required anyway).  

 Shiloh Lundahl thank you for spelling that out for me, definitely puts things into perspective!

Get prepared for their future split, should take less than 2 months, and make sure you have them on a M2M lease so you can dump them both quickly if it turns really bad.You got lucky, now see if you can line up some perspective interested tenants that would be prepared to give notice and move to your place when the time comes.