Long term does not make much money, but less work.

Only sell when you can put the money in an investment with a better rate of return, or if it moves you closer to your goals.The house is worth $385,000 and rents for $2,200.

I was considering a 50/50 partnership minus any money invested into the intial purchase or for renovations. 

I then divided the amount per item by the number of months of life left in them to get a CAPEX cost per month.I recently read an article by Brandon Turner on why sub-$30K houses will never make you money and he had put together a similar analysis on projected costs.Cheers,Helen

How Technology Changed My Real Estate Business in the Last 25 Years25 years ago I decided to “formalize” by hard money / private money investments and start an investment fund and syndicate these note opportunities.

Many hard money lenders (HMLs) tend to avoid properties with significant fire damage, unless the damage is minor or limited to a small area. 

I know there are hard money, and private money lenders, but since it's my first purchase I don't think any of that will work for me.

For example, I know that Lima One will waive a property's seasoning period if you use them for both the initial hard money loan and the longer-term DSCR loan.

Another thing to consider is that large homes in my area are expensive so we will most likely not have a lot of money after the sale to rehab kitchens, bathrooms, and more from scratch.

The whole process will take 2 hours start to finish and I am not even interested in billing them for the time, time is more valuable to me than money, and I just dont want us to have to take the time.