The loan insurance is in case we dont/cant pay back.

All told, the GP is making $337,500 just to arrange the deal (not including their reimbursement of any out of pocket costs they have already covered: due diligence costs, broker costs if they are paying anyone to bring them deals, legal setup costs, etc).  

My best advice would be to calculate how much you would need to spend on food and determine how that number relates to the amount of rent you are paying.

What are you paying for these vacation homes ?

I have been trying to estimate this for my clients, so it's great to have this to reference. 

In turn, this would allow me to pay off the mortgage, pay off about $70k in student loans, and still have $150k left to purchase another investment.

All in all my contractor quoted repairs around $2k.Am I able to withhold from the security deposit to pay for repairs?

How much should I pay this person to manage the project and hire subs?

I plan to delve into Real Estate Full time in 2025 helping clients Buy, Sell, and Invest..🙏🏾🙌🏾.

Harrison, My firm regularly deals with variances and local municipalities to assist clients in obtaining variances.