You get 30% of what it produces after all expenses.I'm assuming there would need to be some sort of exit strategy or buy out provisions written into the deal, such as no buy out for first 5 years but after that, it's at appraised value?

I now have a unit that is producing income with no one in it and I'm able to go in and clean, make repairs, upgrades etc.

If your numbers work out, this plan is brilliant.You should walk out with a few thousand in your pocket plus a nice rental producing about ~$200/month.

Cash flow not real high but having an asset produce $15K a year when I'm 50 sounds good.I'd go fixed as well.

If i were you, i'd get my license, be an LPA of a top producing agent, and invest on the side till you can take it full time.

I currently own one property free and clear and it has been rented for about 6 months now and is producing a good cash flow.

But, I couldn't produce it when I needed it.I was so happy to get some help that I forgot all of the rules I have learned on BP.Don

You have a lot of money tied up in an asset that's not producing much return.

Over the last 4.5 years I have acquired 28 income-producing rental units.

Obviously, not many on this site are good with 4% this deal produces at 1.3m.