It's common to offer below asking, but be prepared for a counter offer or rejection.

Hey @Kristi Barron - Where is your property located, how much work does it need, and how much equity does it currently have? 

I imagine it was with hikers and others before Covid19.

The reason it’s usually not done is the profit isn’t pro-rated, it’s consider $100% first.

My goal is to purchase a turnkey STR property, manage it for at least 100 hours in the first year, and use depreciation to meaningfully offset my W2 income while hopefully also generating cash flow and property value appreciation over time.

A lot of times it is pulling value from thin air.

We’ve made it to the last day of the series!

Unless you find a deal off market directly, you're often up against seasoned investors with distinct advantages in funding and experience.For newer investors, the live in flip may be the best way to gain an edge over pure flippers, as you can usually offer a bit more since you're looking at it from a longer term perspective (2+ years as opposed to flipping it ASAP).I'd also recommend house hacking a 3-4 unit property and fixing up the units as they turn over.

I am posting here to ask the community if they like this idea. would love it if it is retroactive :)  me to. 

The internet as wonderful as it is has also created a 'wild west' effect that is often unbridled.