Even going with private money rolled to new permanent financing would open the door to many more properties and more options for contractors and scope  and grade of improvements.

I'm in the process now of closing on a 3 unit in baltimore that was turnkey for the most part, but the biggest thing I found valuable was getting a good inspector. 

@John T.Looks like your father's position is that of a private lender or passive investor, as opposed to a partner.Even though he is your father, you really should define economic rules between the two of you. 

Do you know if the water and septic are public or private?

I'm concerned the appraisal wouldn't come in high enough though.The other part of this is if I had a private lender loan me the down payment, can I do that?

Hey BPers,I bought a single family property with private money and I'm looking for refinance options once I'm done with the rehab.

The project is financed through a local private lender and he has extended additional funds for the additional construction costs.  

Account Closed the biggest thing is to pick a multi unit that is in a high rental demand area.

Although that product is great for follow up and wholesaling, we are looking for a workspace designed to also manage rehab projects and rentals, as well as a better place to keep track of our private lenders/coaching clients/agents etc. 

Cons: biggest one most people say is you’re buying at market value and you can’t sell for a while (at least 5-10 years).