I sold that in 92. next iteration was 2002 when I started a new lending company in Portland OR to specifically fund Turnkey buyers in the mid west doing BRRRR loans we killed that.

Perhaps if your partner was a general contractor or handyman type there may be some merit there to reduce costs / increase profitability.If your partner enjoys deal sourcing, a better move might be for him to become an agent - so he could legally collect commissions from finding deals and managing properties for multiple people. 

We provide a complimentary property-specific analysis for investors exploring the benefits of cost segregation.

In light of this, I have been exploring the possibility of pursuing creative finance options, specifically seller finance deals, as a potential means to achieve my goals.

I can't add a lot of advice to the specific strategy, but I would urge you to focus on simplicity.

My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.

Be sure to check with your lender to confirm their specific criteria regarding the property's condition.In short, fixer-uppers can qualify for DSCR loans, but the property either needs to be producing rental income or have a plan to do so after renovations.

You should consult an attorney or CPA for your specific situation.ANONYMITY: When you create the LLC, your name is recorded on the documents and published on the Secretary of State's website for all to see.

You can use a tool like AirDNA to get estimates of property performance in your specific market and with your typical size and configuration of home.

I don't mean to be negative and obviously, you are going to do what you want to do, but to put it in perspective, I bought one of my 1st properties in 1990 (at a peak), and sold at a significant loss in 1997, due to specific circumstances.