Hi Sarit,Depends on the building/school district/rental policies/expenses.

Denver Zoning Code says:Per Section: 11.8.2.2 All SU Zone DistrictsIn all SU Zone Districts, where permitted with limitations:1.

Essentially, I want to buy a multi family building from a friend who has owned the property for many years.

Operating agreements are essentially contracts between the members of LLCs outlining the structure of the business, including - for our purposes - the business’s tax structure.

You are essentially betting on the US economy.Obviously, if you see another Mar 2009 scenario IN ANY MARKET, and develop conviction, go in with everything you have got :)

The "sweat" partner essentially then "owes" the cash partner their share of the initial cost like a loan, and that gets paid down (out of STR profits?)

A few constraints with this apart from only being able to lock the rate 5 yrs at a time is I'm finding it essentially impossible to pull any significant cash out through a refi. 

Careful planning is essential for successful income projection, with reasonable precautions taken for cost overruns and economic slowdowns.

Aside from the excellent points that @Dennis Yosco brings up, one thing to keep in mind with Newark is that much of the city falls into different historic districts, and the Historic Department can be tough.

I told them my negative views about the school district they were going to move to.