Quote from @Sean Barnebey: This is an interesting opportunity, and it sounds like you’re approaching it wisely by considering the numbers carefully.

It sounds like you are off to a great start for 2025 and have a good plan.Finding good deals is often the most difficult part of the process. 

Sounds crazy, but these things do happen.  

This sounds like good information.

Sounds like you are juggling a lot of balls in the air!

So a question, haha, and forgive me if this sounds incredibly naive - how about getting a property manager or someone else with boots on the ground to do the underwriting by visiting in person etc.

As a limited partner, you would be able to participate in the project without being involved in the day-to-day operations, while benefiting from the potential profits upon completion.If this sounds like an opportunity you would be interested in, I would love to discuss further and provide additional details on how we can collaborate.Looking forward to connecting soon.

In addition, you still need to meet the IRS requirements for material participation in each property or elect to group themBased on what you say it sounds like it would be challenging for you and your wife to meet these requirements unless she gets involved in more real estate activities that qualify for REPS hours. ...

Hi Kris,It sounds like you’ve got a great property under contract with a solid entry price, and the only challenge is the interest rate of 7.125%.

Sounds like you're likely going to be selling.Good lesson at least.