The idea is that he will 100% fund the acquisition of buy and hold properties (down payment, etc.) and I will 100% find, acquire, and manage the buy and hold properties. 

Purchase price: $345,000 Cash invested: $69,000 My strategy is to add one long-term rental property per year to my portfolio.

For MTR, the best way to increase nightly revenue is to charge for pets!

What are they going to do for down payment?

At the time my only issue was their loans appear to be backed by wall st.. so the closing docs were enough to kill not one but two trees and took way more time to sign the  whole package then I like to spend signing closing docs :)  But thier fee's and rates are hard to beat. 

The only reason I've heard of Morris Illinois, is beacuse our family used to drive to central Illinois to camp and boat, and Morris is directly on Route 47.Are you currently investing in Chicago or near you in Joilet @Scott Meech?

The comps that do exist seem to be performing at a high-levelMarket Overvaluation?

I have one that I like to use.

However, this seems unlikely given the current high interest rates.I don't anticipate significant interest rate fluctuations for the next 6 to 9 months.

Cutting corners to save time might seem like a good idea, but it can lead to expensive repairs later on.