We have been in partnerships that were 50/50 and we just simply did not agree fully on basic managing decisions so were held back so things don't get done in a timely manner, or at all.  

we got the property for 390K.I used traditional financing on a 30 year.Most units are renting for $700 a month but the market can easily sustain $800 with these size units. 

If I need cash and have no other options, I generally fall back on borrowing against my 401k in this manner.

How is this sustainable?

I need a way to make sure the leads get worked in a timely manner and I have a few weeks before the next postcards hit.  

Seems like rehab is going to be soooo expensive. thanks, mario Mario, experience says pull permits, at-least in my career as you do a substantial amount of deals and renovate thousands of homes over the years, no win with cutting corners, does not matter if it is permits or any other part of your process, you want to build a process, a machine, something you can use over and over again, a cheat here and there will get you moving, but it is not sustainable.

There were some great custom drapes that we just threw away because they smelled so bad that we didn't think we could get the smell out in a cost effective manner. 

It will be Big, Sustainable, and for the most part forgiving (hard to make a mistake). 

There are some dumb buyers and gamblers out there, but a market is not sustained solely by idiots (usually!

Those tenants operate more on a scaled business manner so are used to certain ongoing operational costs to pay for all in rent.