Ultimately I had a vision for how this particular home could easily be improved and rented for top market without much headache.How did you find this deal and how did you negotiate it?

I bought a multifamily property that was undervalued, so working on renovations and improvements now.

Further, he can improve the real property to realize a higher sale price.  

Conversion to Equity: Your promissory note will be converted into equity in Norada, which will be redeemed once the financial situation improves.3.

Average maintenance and capital improvement: 350/month (4-5kyr).

Their book is super helpful, and so far I'm guilty of at least half of all the newbie mistakes they talk about, so I expect my rental operation to improve as I implement their advice over the course of next lease term.

However, if interest rates continue to decline, I might consider refinancing some of them to improve my liquidity position. 

I am coming near the end of this project and have already started plugging in some new addresses to run comps and get a jump on the ARV calculations to improve my experience going forward.

You'll see rate improvements at 25% and 30% down for most loan products.

While I don't see it on the IRS tax information, if I remember from the conversation with him, I think you have to buy properties that need significant improvement.