I love this approach.

In this case it might be more of a 20/65/15 to get what you need out of selling the 1st. 

You chose this path.

It seems like the real support you would receive from Pad split is them helping find the occupants/tenants And them processing the rent.

hope it works.. but throwing in the affordable housing requirement a lot of times kills the project right there.Also at least in markets I have worked the time lines START from completed submission.. you make your submission and then get an incomplete letter this goes on for months and months soo time lines still extend.. but at least its a step in the right direction hope if works.

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

I work with a ton of new investors as a realtor the #1 way to get started is just find a 2-4 unit in decent shape and buy it low down with conventional financing 5-10% then you can live in it for a year and do another next year.

bringing on someone not only fiscally but also with experience in this type of rehab is key, as you will need to write a good scope and budget for the unknowns.

But honestly, if one is expert enogh in this business, they don't really need the software.

Thanks Denise for all of your detailed information on Alabama tax liens.