If you pass away, you don't necessarily want all of your equity going to a friend.

This affordability factor, combined with the potential for long-term appreciation and steady rental income, makes older low-rise condos a compelling investment choice for savvy investors looking to diversify their portfolio in Miami's real estate landscape.BUILD EQUITY – Investing in older low-rise condos also allows investors to capitalize on potential renovation opportunities.

It will still be cash flow positive as it can rent for 2200-2300.

But I will be doing something with that equity.

You'll still want to vet them like a regular borrower but make sure you're first position in the loan and have an attorney draft up the promissory note for you with the asset as collateral. 

If it means you can access equity now to get your hands on a good deal, you can always position yourself to refinance in the very near future when rates drop again.

Putting your real estate holdings within an LLC might protect your personal assets in the event that you are sued for your real estate endeavors.Before putting their property into an LLC, some investors choose to wait until it has increased significantly in value or developed a sizable amount of equity.

Put it another way, I don't do equity investing in the public markets well. 

Initially it seemed like the relationship was skewed in my favor - why would my partner want to put money in to only get 50% of a deal when he could just buy the property himself and rent it keeping 100% of cash flow and equity.

I would love to see everyone's (positive) feedback. 😄