Although they are located in the same neighborhood, he made no adjustments due to the age of those homes.We have sent those listings to the lender and the appraiser to reassess.Also approached the seller but they don’t want to reduce the price at all.

Wanted to hear from fellow BP members what their thoughts are on this approach. 

I'm an ambitious and analytical young investor focused on developing a portfolio of cash flowing SFH and small multi-family short term rental properties in North Florida. 

A couple investors approached us, and asked if they could put up the 35k (furniture/labor) for monthly returns, so we structured a deal where we split the profits.

Any insight into how others have approach this scenario (albeit a great one) are appreciated!!

HH income is about $130k excluding bonuses and we have no other debt.I'm having trouble determining which scenario is the best approach given the details.Scenario 1: Refinance the $88k to 30 year, no cash-out, drastically reducing the payment for us now and for rental cash flow.Scenario 2: Cash-out refinance up to 70% LTV.

I realize the appeal of a traditional duplex but there are other options and ways to approach the situation if you're interested.Hope this helps! 

I’ve worked with my GC on several deals and he has approached me about wanting to work together.

Or, do 1-to-1 since you have little work to open and close LLC (and associated accounts) as opposed to if you do 20 a year.Another approach is to change LLC's after a certain time or number of deals. 

Do I approach the homeowners and suggest a Subject To or out Short Sale?