Your equity will be defined on whatever a buyer will pay for it, or an appraisal when you're ready to refi.

Hi Darwin, Welcome to bigger pockets and nice to meet you.There is a great wealth of knowledge on this site and will definately be beneficial to you furthering your career in real estate like it has mine.I am an Agent in Lee and Collier Counties: Cape coral, Naples, Fort myers, Estero, and Bonita Springs.  

Its quite another to actually do it.As you progress you will learn to set goals, (achievable, DEFINATE not general goals).  

Define senior housing, there are several levels and are you deed or program restricted?

I bet there is a large trial and error component to this.

The most recent comp on the same street was sold 7-22 but with another bathroom and +370 sqft for 250k.

Can someone define wholesale?

Hello Weston,My biggest mistake was not having clearly defined documentation when partnering up.

Just a bit of ribbing for a not very well defined question, but actually a good beginner question.Equity, as we define it and apply the term is from an accounting aspect, Assets-Liabilities=Equity or Owner's Equity. 

it is almost impossible to argue that a minimum floor with a maximum ceiling isn't a fair compromise for both parties.3) Fair Market Value - This requires extensive detail to define what is "Fair Market Value", how it is calculated.