Understanding how to uncover the potential opportunities by solving the seller/owners problem then engineering them to profit takes time & skill. 

You can explain to your potential new partner that he will make an extra amount on each deal through his realtor commission which will help increase his profit.If possible make a deal that both of you are happy with because finding quality people to work with is a key to being successful long term.

A local RE professional should be able to provide this information to you as well.In New York, we deal with this scenario frequently and oftentimes it does not make sense to legalize ADUs because the permit process is extremely lengthy, the cost is high (sometimes $150-300K for 1 ADU unit), and the potential increase in property valuable is not worth the risk.If you already have an approved permit/plan and can get your renovation down to $80K, you may want to consider this project if the ARV is say north of $800K.** You should also look into any potential property tax increases associated with this change.

When I calculate an offer on a property, I typically look at the potential rental income and subtract from that all operating expenses such as taxes, insurance, management and maintenance.

Don't forget that from a liability standpoint, you have more risk exposure than just the equity in a property.

Compared to the Pittsburgh and other surrounding areas, Beaver generally has a lower sale price compared to the potential rent values.

If you are renovating the building you will also need builders risk insurance coverage which can be removed once the renovations are completed.

Discussing potential profit splits & what happens in a loss situation, liability, stalemates on decisions etc. are valuable topics to discuss.

Purchase price: $1,700,000 I invested in the Bel Aire Apartments in Burlington due to its potential for long-term cash flow and appreciation.

Select a property that ticks all the boxes - location, features, size, design - to appeal to potential visitors.