., etc.A good projection model will show you not only how to reach various goals, but it can show you all sorts of potential roadblocks that could prevent you from reaching goals (as well as potential solutions to those problems).

Consider what questions the potential mentor may ask and how you would answer.

Is the 10% pref and 50/50 split fair given the risk and potential reward?

It doesn't really hurt to go ahead and get a HELOC that you could access if needed.

We decided to take 2 weeks to study the market to see if there were multi family properties or single family properties with multi family potential even available in our price range.We found a duplex in the roseville area that we are very excited about.

You believed the "Subto community" and now you are in deep doo doo and in a world of hurt because of what they didn't tell you.

It's crucial to estimate the total cost of these renovations and weigh them against the potential increase in property value or rental income.

Repeat that research at the county and state levels. 6 review all info vs your UW and see if there is a land value above $0 that makes the deal work in today’s market. potentially consider a JV project with the property owner after doing the above as a way to make the deal work. it’s not impossible right now based on your question but it is very difficult right now to get the numbers to work

Therefore, I am not sure what's feasible in regards to 1) finding an affordable multi-family out that way and 2) what the unofficial neighborhood ratings would be out that way.I'd appreciate any advice as I consider my options, and a referral or two wouldn't hurt as well.Thanks,Phil

If you got the property using a second home loan, you want to be careful with the amount of days that you stay in the property.If you stay in the property for more than 14 days, it may potentially be hard to utilize the losses against other forms of income.