In fact, nothing was ever done.To make matters worse, I have another Fund That Flip deal that has gone south with little hope to recoup that investment as well.The loan was made in June 2018 and they stopped paying a year before Covid started and this is their latest comments:The developer remains non-responsive to Fund That Flip’s communication attempts to discuss foreclosure alternatives.Foreclosure counsel is waiting on the court to schedule a hearing date for the judge to rule on our motion for default judgment.Fund That Flip continues to work towards re-establishing contact with the developer and their known colleagues to discuss a successful exit.

Perhaps the stress might then start getting to you and lead to an illness & expensive medical treatments that weren't fully covered by insurance.  

I’m just starting out in real estate and starting to believe the old school ways are not for me and STRs may be more my speed.

And no matter what, straight percentages of the income don't work...unless of course you slide the percentage around for the above-named variables, but at the end of the day your resulting answer will break down to $/unit so you might as well just start there and dump the percentages.

You win and you lose in this game.

If we don't tell them we're the owner, they might start getting suspicious when they see us making these changes.The last thing we would want is for them to feel like we're being dishonest landlords, but we also want to maintain some boundaries and make it a little easier to enforce rules if need be.Thanks for your help!

But recently they switched their payment provider from Dwalla to Stripe and Stripe started charging $1.50 for each ACH deposit for rent collection.

I estimated the down payment with the closing fees would be around 12k and I could finalize saving that after I start my new job as a Project Engineer for a multifamily construction company next month.

I am not aware of the zoning, don't have enough contacts here so I figured Its better for me to focus and start with renting ideally to get my hand on RE.Regarding my finances: Last 2 years had some small private biz (1099).

If you want to invest in syndications, start here:  www.biggerpockets.com/syndicationbook