The exception to that in my mind was if you planned to do any improvements that would add value to the home, but since you are buying turnkey, that doesn't sound like the case.

Now that sounds exciting and a pretty good business/investing strategy to boot. 

Kind of sounds like you two got off on the wrong foot.

I hear the sound of a 🎈 popping.

Real estate is local-local and the intangibles and just as important as the tangibles...Without seeing more detail on this property, it's impossible for any experienced investor to give sound advice.

Sounds like the over all consensuses is to stick with applicant one.

You don't say what type of property yours is, but it sounds like a multi-family. 

If I were you, id high ball everything , sounds like major damage to this house     maybe shoot for 60k rehab, high points on the hard money..... even if you buy cash at 30k +60k + hard money fees + closing costs ... you might be able to squeeze a 10 percent return out ..... if you have good contacts id say maybe It could work ... if you have only done this a couple times , maybe pass on this for something with a quicker turnaround time 

I also have the option to partner (silent) in with someone who is willing to invest up to $100k for 50% of the deal which will basically just buy me the property, but i'd still have to come out of pocket for the reno.Not sure if either sound appealing and wondering if anyone has a recommendation which might be the better choice if any at all.Many thanks

I know it sounds like we're being picky, but analyzing a deal is as much about context as it is about numbers, so these are the types of questions you'll have to get used to asking as you progress in your REI journey.