Maybe after 10 years we kick in the management fee.Is this a fair arrangement?

You can work out whatever part-time or full-time arrangement you want.

They will help arrange the closing and the recording of the title/deed witht the county. 

The more hearts = the higher in search-Update your listing description or photo arrangement every few days.

There are actually dozens of other ways to buy" other than a traditional mortgage arrangement.

In this article, you’ll learn how to evaluate their business plan, the real estate market, and operating agreement.Keep reading to discover three expert underwriters' tips for looking at a real estate syndication arrangement from a conservative viewpoint.

Reality Check;Forget your cap rate and focus on the actual money.Your expenses will probably be in the $3500 per unit range - that's about $56,000 annually. yes you might operate for less but that is why it has deferred maintenance.Laundry income should not be included when comparing cap rates to other projects unless they also have similar arrangement.

All IRA rules relating to account ownership, tax treatment, timelines, and distributions still apply.IRAs are individual retirement arrangements, so there is no capacity to combine accounts held by you and your spouse. 

I have partnered with, and have also mentored inexperienced aspiring RE investors in the past, but those arrangements were mutually beneficial, and the partner or mentee brought significant value to the table.You are on the right track mentioning local REIAs--those are great places to start networking; I'd definitely suggest attending those meetings.

Thank you in advance for the feedback.Respectfully, VinceLike Leslie mentioned to fund this property in a LLC you'd need to be in a non conventional or non agency loan because the agencies (fannie/freddie/ginnae) require you to close in your personal name or your living trust (inter-vivos trust or a trust created while you're alive).The downside with DSCR loans is that their rates are 1.50-2.00% higher than conventional paper/financing and their points typically are around 1-2 points higher apples to apples (and sure there were minute periods of time in history where DSCR was probably cheaper than conventional but it was few and far between).The other option to fund in a LLC or entity is with portfolio loans from local banks but that will require you to have a long term lease arrange or have a couple years of tax returns filed for the STR property (short term rental property) to even be considered because they dont lend on properties that arent battled tested or currently producing income.