Some big ones that you guys can talk about before getting lawyers/CPAs involved to see if you are in agreement are things like identifying key decision rights and determine who has those if there is a disagreement (leasing decisions, refinancing, sale, choosing a property manager, scope of capex and renovations, etc) and determining profit/distribution splits.

@GravityPropertyManagement Purchase: $310,000Rehab: $350,000Gross Income Annualized: $100,800Appraised Value Post Stabilization: $1,010,00Cash Out 70% LTV: $700,000

At any time during the 48 month lease the property can be purchased.

This criteria is for 1-4 and 5-8 unit programs.I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

Terms negotiable.Why Shaker Heights Short answer: Purchased under 70% ARV-Reno, Duplex (two rents), desirable clean neighborhood, decent schools.

I’ve recently been thinking about renting out my current primary home (built & moved in 2019: value $550K: have a mortgage loan of 2.65%) and buying a new primary home (built in 2020: value $700K: thinking 20% down +80% loan to purchase) in the same area.

They have made an offer to purchase.

Starting with a cash purchase, renovate and refinance to potentially recover invested capital (as much as possible).I'm optimistic about this approach and eager to see how it unfolds!"

Many investors make the mistake of assuming that a shorter PMA is better:( There's a reason purchase contracts have type so small you can barely read them, yet are 4-6+ pages.Reality is:1) Only if it's properly in writing, do they have to do it.2) If it's not in writing that they can't do it - they will and charge you for it.

However, none of them purchased it.