I financed this deal with a hard/private money loan that was at 90% of purchase and no points, no appraisal, no fees, with a 14% interest rate.

The Do's and Don'ts of Rental Arbitrage and why I think it is one of the best strategies RIGHT NOW for those getting into real estate for the first time, especially with today's rates and market.

If the contractor-partner is handling all reno and construction part of the property, only his crew get paid the usual hourly/daily rate and we split the material cost? 

The latter will have higher interest rates whereas the former has a 2% interest at my local credit union. 

Also- I just turned it on and nothing has changed in my rates.

But multi families should be valued by being pegged to a cap rate for an area or the country etc that investors expect. 

Always check your state laws and lease for scenarios: if unit becomes uninhabitable.Option 1: Renter's should have rental insurance which would cover this.Option 2: Have them pay the contracted amount and provide a receipt for hotel, however I would also review local per diem rates and provide guidance on their budget.Hoping for a smooth project for you.

Then when I sold in 2022, it was before rates really took a jump. 

He said a realtor has advised him to sell it for $500k so he wants exactly that as well as $80k down at a 6% interest rate.

There may be other options at lower rates this year if it helps at all!