Another thing to consider is that if it was your personal residence, you may be able to exclude some capital gain income if you sell it within a certain amount of time.Best of luck.

I appreciate any insights or personal experiences you can share.

We got great tenants and have already built a strong relationship with them. 

I guess the proxy might be what the person is paying now provided this isn't their first. 

Even under this scenario, with a 50/50 split, you will not be getting paid for doing all the work.Another option would be for you to put in 50% of the purchase price using an LLC that you own 100%, borrow the remaining 50% from your investor as a 2nd position loan at a fair interest rate with points, and borrow the rehab under your personal guarantee.Better, if you can find a lender who will lend to a newbie, and they are out there, you could borrow the purchase money using some of your cash as a down payment, as well as all the rehab funds using a construction loan.

In my case, I will be making a personal offer from myself, but the financing will come from my LLC.

As an escrow person that appears to be a scam.

Hello,I was recently told that if I or my partner personally complete work on one of our flips that we own under and LLC that it voids the liability coverage within the LLC and we as individuals would open ourselves up to Liability.

Just a tip: make sure you go into it with an experienced brokerage who really know their way around.I’ve personally been helping international investors get into the Dubai scene and work with experienced local companies that handle everything from start to finish. 

We would not want to get into a long term relationship with the new buyer as it would need to be a whole new loan qualifiction.