Will you close on the sale (after reno) within 6months?

You may just want to have the sales contingent upon clothing after 1 year.

The proven additional cashflow may compensate for that a bit but that will be largely priced in and you may even need to discount the cap rate at sale. 

I assume since most people don't have any money the "sale" is for the equity strategy. 

. - Annualized ROIFor Rentals that we hold in our portfolio, that were perhaps once BRRRRs, I analyze based on ROE - Return on EquityI used this equation to back into my maximum allowable offer (MAO): ARV - Rehab Costs - Holding Costs - Purchase & Sale Costs - Desired Profit as a percentage of ARV = MAO

Purchase price: $900,000 Sale price: $1,395,000 SOLD!

As a hypothetical: if your total mortgage, interest, taxes ends up being $4.5k per month and you can have each person paying $1,200 then your personal portion is $2,100.

I also suggest starting out by house hacking - buying a primary residence and renting out a portion - basement, room, ADU.

House is in fairly good shape, built in 1980, tite roof built with permit in Dec 2009  closed in Feb 2010, and one portion of the roof is flat (ugh).

My question would be what happens if the bank calls the loan due to the sale?