My goal is to structure the investment so I don’t need to contribute any starting capital.

We bought it in cash with 9 investors for a total of 970k contributed.  

Do I only draft a cash-for-keys agreement after they've accepted the notion of it or just drop-off the proposal/demand?

In the city of Portland (Oregon) they only allow us to run rental/criminal history if a tenant applicant isn't contributing to rent (if they aren't paying, we don't get to look at their finances). 

Ownership and profit-sharing can be split based on contributions, with you possibly earning equity through sweat equity.

@Yents Ybrimovic If the 203k loan only requires 3.5% down and you can finance all the repairs in the loan - then what exactly is your friend contributing?

I’m open to any advice, recommended resources, or lessons learned from your experiences.I believe that growth comes from community and shared knowledge, so I’m here to both learn from you and contribute wherever I can.

First off, pardon me if I misunderstand things given the limited amount of information I have, but there are 2 things right off the bat just from your description that could be contributing to your issue: 1) a 2nd floor unit - I had a similar setup for a duplex I owned in St.

It’s like a ROTH on steroids with no contribution limits. 

Most cities don’t want a mobile home park in their city limits because the tenants take more money out of the tax system than they contribute.