I’m looking for some feedback or advice into this process.Thanks in advance for the feedback.Art Hey Art,You are going to be paying 8-10% for the construction loan, and might be decent amount down.

You have to have lived in a property 2 of the last 5 years to get the tax exemptions.

AFTER paying the public adjuster the claim settlement came out to almost $200k.

Long term tenants in place currently paying below market rent at $1200/M.

Offer some incentives like paying for their move or covering the security deposit and first months rent at their new place.

The seller may anchor to that 5% interest rate because in theory they could put it in a savings account or CD and make 5% (ignoring taxes for now).

Based on what you described the LLC is likely the tax-payer on title.

Currently working as a lab scientist which relatively pays good but then again I'm not sure if I gotta start real estate after years of saving?

Devin,Just a warning about checkbook IRAs: Self Dealing Activities will get your entire IRA disallowed and you will have to pay the tax on all your money.Self Dealing Activities are frighteningly easy to do.Do a Copilot search for "Problems with checkbook IRA plans."

I know that I stand to make more money per renovation by just paying for the work, but I'm attracted to the idea of partnering with him for a few reasons.