I am now in a w2 job because i now understand the power that the w2 provides for doing the BRRRR strategy since ive done that in the past. one of my partners is a contractor and a great one at that so weve been biding on homes we like on HUBZU and with the cost we save on renovation it really allows us to bid a bit higher then the others. unfortunately we have not won one of the properties but were going to increase the amount of bids we place within in our criteria.

So you want to get pre qualed before you start.. you want to make sure you have Capacity as @Bryan Otteson states you may have to pay the short term loan off in cash if you can't refi or you may need to add a significant amount of cash to the transaction to meet a much lower LTV that a lender may be looking for if appraisal comes in light or terms change..

Also some lenders have a rule on the amount of mortgages an individual can have.

Below 580 the down payment is 10%.DTI ratio limits. 31% Front end/45% back end.All income sources (gross amount) will be considered as long as you can show proof they have existed for 2 years as @Keith Kellermeyer stated.  

So I'd check with city code book and see what's required,, all that humidity has to go somewhere,, and inside isn't where it belongs.Even if it was a private home,, the amount of moisture staying inside is bad for your house structure,, mold issues, paint peeling, rot, over time it will become a bigger problem

When you take early distribution from an IRA you will have to pay penalties and the amount you take will be considered income so you will have to pay ordinary income tax on it.Roth contributions can come out tax-free, but the earnings will be taxed and penalized also.https://www.irs.gov/newsroom/what-if-i-withdraw-mo...

I have a considerable amount of equity in my home and my best friend of 30+ years is interested in putting up a substantial amount of money to be a silent partner.

I've been trying to rent it for a while now and seems like a fair amount of interest but haven't got a lease signed yet.

I joined BP about 3 weeks ago and have been blown away by the amount of collaboration and support within this community.

But yeah paper seemed easier for me considering the lower amount needed to invest (I worked on 2nd position NPNs) and their relative "hands off" nature.