Better to take the money and run.Further, as things happen, and a big bill comes due, you'll end up arguing with your siblings about how to pay for it.If you want to keep it, form a company to manage the property.

Capex is lower than sfr as the HOA maintains the exterior.Monthly Income: 700Monthly Expenses: 533.75Monthly Cash Flow: 146.25 (not including capex)Pro Forma Cap Rate:13.17NOI: 5,533 Total Cash Needed: 8,000Cash on Cash ROI: 21.94Purchase Cap Rate: 13.83Paid off in 9.5 yearsWould you go through with this?

Form a partnership with an investor :), Use credit card, use line of credit etc etc.Your availability of finance is limited by your creative thoughts :)

I've searched a bit and have not come across a post that quite fits an investment opportunity I have been looking into.At the bottom I put a cliffs notes version of the building/surrounding area (probably could have shortened it up, and maybe I'm looking at too many external factors - however let me know)My thoughts - building would be good structurally/mechanically - located in the downtown core - building is already built out into 4 offices and reception area main floor with a kitchenette/half bath2nd floor has 7 offices, 2 baths, 2 storage rooms2 entrances into the building, street parking on 2 sides, building is located across from the local courthouse(Could potentially turn the upper floor into a couple of apartments or one large apartment - rent for 800-1k a mo for one large apt, however rehab $$ would climb - city would be more than willing to change zoning for this and encourages this type of arrangement in the historic buildings - ie office bottom floor, apt top floor)$60k Purchase Price$20k Rehab budgetPotential gross income $2800 per mo (7 offices $400 ea)Guesstimated Pro Forma--  $33600        Gross Income - 7 offices $400 ea       (5040)        15% Vacancy       (2400)        Property Tax       (2500)        Insurance       (6000)        Utilities - figured $500 per mo/gas/elec/water- think this is high though       (1680)        Cap Ex       (4980)        P&I Pmts $60k loan 5.5% interest - 20 year amortization       (4800)        Janitorial - $400/mo - this would probably be lower----------------------------------------------------------------------------------$      6200        Cash FlowI think I could improve on the above cash flow, not sure the Insurance is 100% accurate, could possibly increase gross income if I have more than 7 offices etc.  

I just formed, in New Jersey where I live, an LLC and plan to form a wrapper Michigan LLC for the Michigan property that will be owned by the New Jersey LLC.

I have seen these get done with a JV or on a very strong ARV appraisal if you have a well outlined, line item pro forma construction budget and very good credentials. 

Portfolios Pro Forma Rent - our main goal is to increase our pro forma rent by a certain monthly amount by the end of the year mostly via new acquisitions.  

There were no usual sales disclosure form as they were "exempt".  

Can you form a corporation and sell stock shares which lead to individual future ownership?  

Don't accept pro forma statements, get actual numbers and actual documentation.These rules you mention, the 2% rule and 50% rule, are just vague rules for deciding how deep you want to dig.