👋 Excited to be part of such a great network of investors!

Hey Jack,Welcome to the Bigger Pockets community!

I hear a lot of landlords tout tenancy at will (m2m) because they think it will be easier to evict a tenant if things go south.  

I think by the description these guys are brokers .. so they tack on fee's to the direct lenders fee's   Kind of like peer st..  

I currently broker LIHTC multi-family for a large firm coast to coast and am also interested in MF in the Arizona submarkets as well, and will eventually invest on that scale - I just figure breaking into the state through SFH flips may be a more risk adverse way to understand the pros and cons to phoenix submarkets.

A deal this small wouldn’t make sense as a partnership unless the original intent was to scale and grow together assuming this deal works out.In regard to the financing, if you can’t get it on your own without someone else’s balance sheet and income then it would be very difficult to untangle that partnership since he’d be a personal guarantor right along side you.  

Rehab cost overrun is where most BRRRR investors and flippers go wrong.

Welcome to the community!

If you expect to get every penny out of every deal you are going to be disappointed.

I think you already know the answer to that question lol  Have you been to NJ before?