Purchase price: $601,000 Cash invested: $450,000 Contributors: Jess Haas Rental Type: SFH(4bd) + ADU(2)Condition @ Purchase: Heavy FixerStrategy: Dormer Addition + ADU

The financial adviser that is establishing our lines of credit is charging 8% of the line of credit up front, with no additional payout to him thereafter.

I'm not sure a CPA would be able to reduce my taxable income by $30,000.

Duplex have different zoning that may permit additional units.

In addition, lenders for larger commercial multifamily often want you to have previous experience managing rentals. 

I think I am gathering here from the responses that we are safe to say as a GP we own the property as are the other sponsor, but for additional clarity, disclosing shares in some cases may help bolster tacit understanding of who does how much of what.

Just understand the additional risk.

If you're just buying the building the building and leasing it to an operator, your list of things to do and potential bumps in the road are somewhat reduced, but either way, proceed slowly and methodically, especially if this is your first RAL.

This method involves purchasing properties that need work, rehabilitating them to add value, and then refinancing based on the improved value to fund additional investments.

This is why as @Shawn Mcenteer to be on the safe side to give a full additional months notice to avoid any disputes is great.Eviction laws are strictly enforced - so better to not play loose.