Ideally I’d like to scale faster with the equity I’m going to pull out. 

Ideally, this will help you decide what direction to go next. 

Ideally I'm looking for turnkey properties or properties that need some work which totals out at or under $100,000.Please don't hesitate to tag me on replies or message me directly -- thanks in advance!

Obviously waiting is not ideal with the mortgage due 09/01 but I don't want to find myself with legal issues either.

We went over some options for a conventional mortgage, however I was trying to to purchase a rehab and ideally sell it within the same year.

What would need to happen is your tax pro would need to assist with a 1065 partnership return for both of you (ideally) to ensure its being done right.

I know that it might not be ideal, but this is likely the scenario we are working with. 

The reverse may be a little less ideal. 

Renters:A-Class: Ideally 90% or more homeowners.B-Class: 50% homeowners and 50% renters.C-Class: Predominantly renters.Land Value:In A-Class areas, land should be worth rebuilding and upgrading.In B-Class areas, rebuild as-is if the property were destroyed.In C-Class areas, it might be better to sell the land if it’s not cost-effective to rebuild.Crime Rates:Use resources like Trulia.com to gauge crime levels.

Stacking rental houses every two years using the equity built up for the next downpayment each time--ideally with duplexes.Alternatively, they could look at a market like Lansing, MI where you can buy a duplex for around $140,000 where one side pays the expenses including the property manager and the other side is mostly profit.