Sure for most occupant home owners with no money in the stock market and cash tight perhaps (just my views mind you) use of their HELOC to have a house they live in paid off sooner makes perfect sense. 

I would deny based on whether they had an outstanding debt/judgement to the prior landlord.

. - For Private Lenders:- Vet investors based on their experience, reputation, and past performance. - Clearly define the terms of the partnership to avoid misunderstandings. - For Both Parties: - Use legal agreements to outline roles, responsibilities, and profit-sharing. - Communicate openly and regularly to build trust.

I’m based in Atlanta, GA, and currently exploring passive real estate opportunities in the area.

and are you certain that the appraisal is based on AS IS value and not subject to value (ie value after repairs)? 

Willing to go the extra mile here based on the numbers.Thanks!!

Are there any other areas I should consider based on my budget and purpose?

Because the property is so unique pricing likely needs to be as well, maybe consider that based on the property needs/maintenance and location you may not want it consistently turned over so maybe you open 28 day slots and allow use with a 1 time per month turn over.

The information shared is based on my experience and industry knowledge and should not be considered legal, tax, or financial advice.

He is based in Indianapolis and works with a ton of OOS investors.