I took out the LLC and contact info since I didn't ask if I could share it. too small. we stay in the single family, triplex, and then 150+ units and above 10 million in construction values to get to instittuuioal level capital and income. you need to underwrite 3 million dollar checks. he's probably raising from friends and families on his first deal but I wouldn't touch a deal with my own money without non recourse debt or a clear development plan and exit.

Your gain / income on the sale would beSales price less cost to purchase the lane, less the cost to build the property, less improvements less costs to sell plus the depreciation taken on the property.Whether the gain is ordinary or capital will depend on whether you are classified as a dealer.

HI Mario, on a primary you might actually be able to get to 90% depending on credit, income, property type and seasoning..rate might be more tolerable than you're thinking..

- Are there areas that would work well as a mid-term or short-term rental in addition to long-term?

If work hours permit, it may be good to dip into investing while you still are making earned income, and then once you have some experience, make the jump.

@Joseph KirkWhat is the median income?

Property Summary:List Price: $230,000Estimated Monthly Gross Rental Income*: $3,400Estimated Monthly Operating Expenses**: $1,500Net Cash Flow: $1,919I have a business partner who may be interested in either a private lending of full equity arrangement, and I want to be sure that the deal is beneficial to him.

FYI - We just had the spend $15,000 on lateral sewer problems causing backups into the basement, so year to date we have no positive income.

The new property should have some amount of cash flow, provide additional tax benefits, and appreciate in value while having your bills paid for by the new tenants and the new rent which in my opinion would be a better return on your investment than simply recasting your loan.

At the end of the day, as others noted, if it is already built and not taking any additional time for you, great.