Hi everyone,I’m currently in the process of closing on two owner-financed small multifamily properties in Milwaukee, WI, which I plan to buy and hold.

.- I plan to do all the work for the STR etc... - But I have a family member (Brother or Parent etc...) who is interested in putting some money into it.- Total start up costs (Down payment + closing costs, furnishing, getting started on Airbnb etc...) = 200k USD- Family member wants to put in 50k USD of the start up costs, but doesn't want to be on the hook for the mortgage. 

You will then have to refinance with a commercial product or pay it off.

In my experience these are the levels of how financial fraud is doneLevel 1 - The “sponsor” is a fraudster from the beginning and the entire investment is a designed fraud designed to steal the investor's money Level 2 - The sponsor initially intends to operate legally and honestly but the temptation of easy access to money, usually fueled by addictions to drugs, sex, partying, etc. leads to the bad decision to line the sponsors own pocketsLevel 3 - The sponsor intends to operate legally but a crisis in their life resulting in a need for money leads the sponsor to “borrow” from investor’s funds with the full intention of paying it back ( which they are unable to do).Level 4 - The sponsor intends to operate legally but the assets under their management incur substantial loses; the sponsor attempts to cover up these loses by “temporarily” borrowing from one investor to pay another or submitting false results.

So basically Ill be paying 12K a year for property taxes on a 320k building.

As many investors are aware, a cost segregation study is a very beneficial tax planning tool that can create a very quick ROI.

I used my VA home loan at a 6.375%  ranch style 3 bedroom 2 bath 1316sqftPurchase Price: $268,552monthly payment is $1930  I do not pay property taxes. 

Then work on annexing into the town of Wellington in order to rezone other parcel (B) to industrial or commercial to follow towns comprehensive plan.

However, I had to pay a premium for the exchange property because the market was so hot at the time.

Hey BP community,We just bought our first property that we plan to use for short term rentals.