Quote from @Victor Yang:In addition, is it possible for me and my wife to gift 36k worth of equity per year of the house (under the annual exclusion limit) and therefore have none of the costs go towards the lifetime gift limit?

.🏗️ Building Equity While Others PayWhen your tenant pays rent, they're helping you pay down your mortgage - building your equity.

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Meaning there needed to be more forced equity?

My advice would be to drown out the noise you hear from others with positivity and thorough due diligence.

The end product will be great, as others have mentioned perhaps in other threads, Delta has not increased any of the cost, so there is still a huge equity upside.

We raised $4.5 million in equity and got $4.5 million in fixed rate debt from Freddie Mac at a 5.85% rate.

That is unless you have a JV or other equity partner who is putting up the funds immediately with no lien, title insurance, etc.

Your ability to identify properties and markets where you can generate equity (both imputed and appreciated) while using debt responsibly and knowing when is most appropriate to sell is how you acquire more real estate. 

Hey @Reid Laliberte,That's a heck of a deal and I'm sure you have a good amount of equity in it now.