Thanks for the thread Anna & Marlo,We are pursuing "Shared Ownership" with a small 4-plex. 

Anybody have a nice profit and loss template set up on excel that lets you plug in your numbers each month? 

This price point will determine what markets you can invest in, what type of projects you can pursue, or if you want to hold off completely and save more.

I love real estate and the Richmond, VA area, which is why I wish to pursue a career that can educate me on how I can invest in real estate in the future in Richmond.

A bit strange that you leased the commercial spaces knowing you would be pursuing a conversion but understand the objective of taking out your capital partner and I see in your follow up post the relocation language so you clearly thought through the transitional phase.

With smart negotiations and a streamlined process, we capitalized on the opportunity for a quick and profitable turnaround.

Short-term rentals are great when cash flow is strong, but with profit margins shrinking, switching to a long-term rental could add some stability.

They want something with a profitable recourse would be my guess. 

I don't know if any of these ideas will work, but maybe worth pursuing.1.

If done right most of these gains are tax-free- $40K in equity capture (profit) with $20K out of pocket and 13% cash on cash thereafter (300%+ returns)- $24K of equity capture with $32K out of pocket and 36% cash on cash returns thereafter (75%+ returns)- $41K of equity capture with $27K out of pocket and 12% cash on cash returns thereafter (150%+ returns)None of the above numbers include loan pay-down or appreciation.