During the 1st walk through, we made notes to gut the bathrooms, clean & paint the rest of each unit & leave all else alone.

I can usually get the house cheaper than the rest of the neighborhood, but get the same rent as the neighborhood. 

The rest next year. 

With their assistance, you can rest assured knowing that you have made a sound decision concerning your investment.

My logic is two-prong: i want to use the property myself several weeks a year and save money that i would otherwise have spent anyway on airbnb, and the rest of the time have passive income. 

The building is 60 years old, very well maintained, 2 story brick construction with UG garages for 7 tenants, the rest park on the street. 

Could I ask to purchase from him to put myself in first position then JV the rest of the way out and let him factor in his same profit as before and I still take a 12% ROI?

Yours doesn't get cleaned any different than the rest of them.

The rest of the block is duplexes. 

Should I be getting pre approved first for the rest of the funds?