There are many other factors to consider besides bedroom count and of course you need to research your specific market.

Overcoming analysis paralysis has been a challenge for me, but I'm diligently working to find my niche and develop a solid strategy.I'm eager to connect with fellow investors and learn from your experience.

Any specific clauses that should be included in the case someone bails and the other 2 have to be responsible?

--HELOC is against PRIMARY---Rate is 6.95 first 12 months then prime +2 for a total of 10y, interest only, then amortized--Total HELOC would be purchase price + Renovations (approx 120-130 total but who knows)Projected cash flow is estimated without knowing specific extra costs.  

Hi @Peter MatusI don't have all of the information on your specific situation but that does sound high.

I started this thread to address this product specifically.

One option is a marine loan, which is a type of loan specifically designed for purchasing or refinancing a boat.

ThanksSuper market dependent and property specific.

Nobody can comment on what's equitable without knowing each partner's strengths & weaknesses and the specifics of the property being purchased but here's what I picked up on immediately: Why not form an LLC and have a partnership agreement? 

What specifically did you do differently on this property transaction, than an owner-occupied property transaction?