Need advice if this is worth looking into.The property has been negotiated at a 20%  discount and 7.6% tax adjusted cap rate. 70% LTV with Freddic Mac loan.

After that, we split the revenue 50/50.I was interested in a preferred return of 8% for the LP and then a 50/50 split if not 60/40 split favoring the GP for all additional income.Here is my reasoning.

With NPV, you pick the discount rate and compare the present values of the cash flows for Investment A and B.

Having a job in addition to managing 10+ rentals can be a slippery slope if your in that situation.Best of luck!

These are professionals with additional training and a stricter code of ethics.

It's a great opportunity for my family to have some additional income down the road.But man, it is tough telling a young family with 3 kids that aren't going to be allowed to rent the house due to prior collections owed to landlords and vehicle companies. 

Kind regards,MattOne additional side note, I did create an LLC which I am running the STR beach house out of.  

If you have good amount of equity in the property, you may be better off selling and redeploying into a few additional properties.

In addition as you talk to contractors/tradesman they will often steer you to a solution that may not be best for you.

He suggested that we also seal the brick with a waterproof sealant like a clear Drylock just for that additional level of protection.