In order to calm your partners nerves, you may consider exploring a more adequate asset type.

Looking at the underwriting rules for FHA and CONV investors can only own a certain percentage of the total # of units in order to be eligible for this type of financing.

What made you interested in investing in this type of deal?

What made you interested in investing in this type of deal?

Honest opinion - this seems like a great opportunity for you with 70% LTV at 5.5% for a property this type/size - I would be very very careful if you need to get the other 20% as a relatively new investor - someone willing to lend the remaining 20% could easily take advantage or come up with terms that could cost you - definitely depends on the further info - but tapping the equity of your current rentals and taking down the full 30% equity stake in this acquisition would probably be the best bet

i am new to real estate investing and would like to recieve some type of guidance espeically in wholesaling !

I came across this article about the recent Salt Lake City Council budget amendment that includes money for the city to monitor STRs via some type of software.

This is after averaging out the costs of 1) roof, mechanicals, siding, flooring, etc. and dividing by their life span then also subtracting general maintenance costs (handyman type stuff frozen pipes, etc.) you see each year.

With the right lender, it only takes a couple weeks.Here’s the link for more info: https://www.va.gov/housing-assistance/home-loans/loan-types/...Your current lender may offer this, but check around.I used the VA IRRRL in 2018.I wish you all the best.

What made you interested in investing in this type of deal?