@Tom Mole Going through the scenario the JV partnership would pay the following items out of the rental income:Current MortgageRehab LoanRental expensesAs the "managing partner" I would handle all elements of the rehab and subsequent landlord duties.  

"The property is being sold free and clear of the lien(s) being foreclosed, and of all interests subsequent in right to that lien. 

The 1st floor tenant went on vacation, came back, found electrical usage while he was gone, got hold of the utility, and the subsequent investigation uncovered the error.

Personally, we did the flooring, painting, some demo, landscaping, a lot of trim work, and many of the smaller aesthetic projects (floating shelves in the guest bath and laundry room, sliding barn door, etc.) on our own which cut costs a good bit. 

One corner of the house has a serious foundation issue, main stack should be replaced, flat roof needs serious work, major leaks in that moldy smelling bathroom (we found gym shorts wrapped around the toilet drain and subsequently sprayed with flex-seal, OMG).

if one was to start with 3/5/7 ARM based loans at the beginning will the bank check on live-in vs renting status to decide interest rate subsequently when the loan reaches annual rate adjustment state?

Just was quite…. expensive… :)To your questions:Yes, I am looking cash out based on ARV and repeat for subsequent deals.Nope - this would be my 3rd SFH in Memphis.

Subsequent loans were easier to get due to history and more collateral. 

It took place after the effects of the 2008 financial crash had subsided and before COVID-19 and the subsequent unprecedented rate hikes by the Federal Reserve.

You never pay the taxes, you just keep exercising your right of first refusal to buy subsequent year's tax liens, until you are ready to foreclose.