Commencing on the 1st day of January next following the Rent Commencement Date and on each January 1 thereafter (each such date a Rent Adjustment Date) the Minimum Monthly Rent then in effect shall be increased [or decreased] by a percentage equal to the percentage increase in the CPI Index.

I have always had a strong belief that we should lift each other up rather than step on each other for our own personal gain.

Posting here on BP is equally as valuable.

All things being equal I'd try to find a similar investment that doesn't need the flood protection.

We both would do the refinancing.So the plan is that we'll become 50%-50% partners in the property and we both will refinance the property.For refinancing, we'll need $80K; $40K would come from my side and $40K would be paid by him.Furthermore, the profits from the rental income and/or expeses would be shared equally too.what do you think?

It is a belief system without faltering, no matter how dangerous it is or how unpopular it is with others.

Either you and/or your partners need1.) experience with property type and similar size.2.) net worth equal to the loan3.) liquidity equal to 10% of loan or 6-12 months debt service4.) property 1.2 dcr or better5.) 25-30% down plus closing costs, not to be counted in above6.) 12-24 months p&l7.) current rent roll8.) personal financial statement for all loan signersMay be required: capex reserve, first year insurance premium+

The interest you pay each month is:Interest = (Rate / 12) * Unpaid balance.So, I get $101,403.43 for your unpaid balance.On a 3.5% fixed rate 30 year mortgage, you will have to make 122 payments before the amount of interest is equal to the printipal.

Yes, but in my universe everyone has an equal opportunity to be stupid.

Justin,Strictly from the investment perspective of your question, if you can have your mortgage paid by tenants and get into the house with 3.5% down, you're leveraging your initial cash investment more effectively - you're controlling a $100k investment for a $3500 outlay vs. a $20k investment for the same upfront cost - and someone else is paying all or most of the ongoing expenses.But, this assumes all other things being equal.