Their current fund with a 10% preferred return is supposed to stay open until the launch of the new fund that will pay 7%.  

If staying in the deal isn’t ideal for you, an equity buyout by your partner or another investor could be the simplest path.

They’re such great tenants, they made us happy, and I wanted to keep them happy, so rent just stayed the same.

I certainly learned very quickly to stay way from the "guru" types.

I do understand that not partnering pushes back your timeline substantially...I'm in the slow and steady wins the race and stay small, own it all camp, though. 

Most are going to want to lend on the rehab as it ensures the rehab to be completed,There are numerous ways to pencil it out in your favor though.It benefits to work with an experienced broker who can guide you through the process and put you into the best possible product and solution out there for you.

Alwasy stay on top of your properties and investements.

Thanks Again and Stay Safe!

Or go the motor home route. ( wife does not care for the motor home route though) Or just do what we do now.. fly to where we want to fish stay in hotel and hire a guide !!!..

In those days it's not uncommon for tenants to stay for 20 to 30 years.I had another interesting rental episode with a tenant.