BTW this will also help you understand local rent rates.

Those two together create equity.Here's what I want you to understand about “buy and hold” residential real estate:Let’s use a single family home with a property value of $300,000Let’s use an initial loan amount of $240,000Let’s use an interest rate of 7.25%And I’m going to give you $150 of cash flow per monthUse a 5% appreciation amount for your property per yearLet’s see what happens after 5 years:After 5 years…$150 of cash flow per month = $9,000Your mortgage has been paid down to $227,000 = $13,000Your property is now worth $382,000 = $82,000So that’s $9,000 of cash flow, $13,000 of principle buy down, and $82,000 of appreciation.

Even under this scenario, with a 50/50 split, you will not be getting paid for doing all the work.Another option would be for you to put in 50% of the purchase price using an LLC that you own 100%, borrow the remaining 50% from your investor as a 2nd position loan at a fair interest rate with points, and borrow the rehab under your personal guarantee.Better, if you can find a lender who will lend to a newbie, and they are out there, you could borrow the purchase money using some of your cash as a down payment, as well as all the rehab funds using a construction loan.

She pays modest pet fee per month.

Well, it's boring if you don't like scuba, snorkeling, boating, swimming, fishing, the Mayan ruins, Xcaret, riding around in golf carts, a marina, Dolphin Encounter, etc. in a very secure, safe environment that has a very low crime rate, and is constantly patrolled.

If the seller will entertain it you write it into your offer - what you're willing to pay total, loan term, interest rate, down payment. 

Would a bank(say like BankofAmer) allow me to assume the low interest rate of another property and blend the interest rate with my current rental property?

How I have it set up currently is the owners (my clients) are receiving Airbnb payouts and I send an invoice at the end of the month for my Mgmt fee.

Im looking to do a STR in Ocean City Maryland and the vacancy rate, if I'm fully booked in the peak season (May -Sept), would be  58%!.

My mentor says you can get more cash flow and liquidity with SFH vs Multifamily, since brokers seem to want a certain cap rate on sales accross a geographic area vs when working with SFH sellers, they're more flexible and motivated based on individual needs.What are your thoughts on buying SFH vs Multifamily?