If you get a judgement I hear you can take money out of her security deposit  :-)

We have a flip property that we close on this Friday.ARV (by Subject To Repair Appraisal) = $440KPurchase Price = $230KRepair Estimate = $100K We have secured private money to take the property down @ 10% and no points, but this is the first time that we have used this investor and when we met him and his wife for lunch today, he asked if we would be supplying the cash for the repairs.  

Having the buddy live in it fills a need for onsite security for it, and to have someone who can help with the rehab without having to be an employee.  

multiple partners In one deal and the partners don't know each other is running up on a securities offering or deal you may want to tread lightly there.do what @Brie Schmidt  does compartmentalize them one investor one deal.. no pooling pooling of investors into one deal is a BAD idea unless you have a PPM structure and adhere to the securities rules.. you take on a ton of risk doing that. and way to much for just little vanilla rentals.

That's why we accountants have the most job security after nurses and drug dealers.

@Stephen Diaz I am in the same boat as you are currently and the way I solved my issue was I went through a hard money lender and then took out a secured personal loan to come up with the down payment.

Here is the ONLY way I would hold it...If you do not have any other good applicants that can take the unit sooner, I would take a non-refundable binder payment equal to one-month's rent NOW, then all of the move-in fees (first/last/security/pet fees) when you sign the lease for October 1st, which should be within a week. 

Yes, @Jim @Jim Cummings, what I mean by $1M is based on my liquidity I can secure upto $1M or little over that, of agency debt.

If they have to leave sooner, tell them that they'll be responsible for rent until you're able to secure a new tenant. 

And don't forget - if you want to sell your WRAP at a discount - WOW - more cash in hand.Oh - you may want to consider an unsecured mortgage or secure the seller financed mortgage on another property you own, now you have a free and clear property ---- just think what you can do with that.One more thing I should mention while we are being financial creative - when you get a new mortgage on the property, offer the seller a PAY-OFF at a reasonable deep discount -  you win again!