The lender isn't bound by your operating agreement, they are bound by the loan agreement, which will most certainly say that you each are jointly and severally liable (which means that each of you and all of you are responsible for the whole deficiency--basically whoever they can get to first, or whoever has the most assets for them to seize).This is why a wealthy person wouldn't want to sign a PG with a broke partner(s). 

There's the cost of the actual fix, PLUS the cost of managing and dealing with the project. 

There are some basic expenses but then there are the property specific ones to consider.

Due to our company being newer formed back in August of 2023 we have no history with any projects.

Given you have experience with house-hack it may be a good option to look elsewhere.I'm also curious as to whether you are considering other creative options like short-term rentals, mid-term rentals or working on projects that require more rehabs.Best of luck!

All 3 units were occupied very quickly and the property is now cashflowing above our projections with vacancy rate (so far) below what we expected!

What do you guys get for basic 'cover-my-***' insurance coverage?

I knew this wasn't going to be a easy fix, but I wanted the project and to showcase this Victorian home for the community.

Have Some Liquidity On Hand When we invest in your project, we commit to do everything in our power to help you succeed.

Have Some Liquidity On Hand When we invest in your project, we commit to do everything in our power to help you succeed.