@Alex Houser You need more numbers and a proper inspection to justify the price. 

And a local resident is usually very helpful.

If you still want to rent out your other bedroom you can have a tenant in the opposite side AND a roommate which would give you two income streams.

I'm happy to share my experience as both a flipper and a lender.

An owner had their property with one management company and transferred the property over to my company with a tenant already in place and a lease with the old management company.

@Brad Kanouse Using Traditional IRA funds for an investment property typically incurs income tax and a 10% penalty if you’re under 59½, as investment properties don’t qualify for tax exemptions.

So This means that in my not-so-hypothetical example, I could convert this 9bed 3bath Multi-Family into 12 Condos sharing 3 bathrooms, 3 kitchens, and a Basement.

So in the FWIW file what I see all the time is those trying to start out and getting the same returns as those with a lot of experience. you need to build your experience bucket and as you make your partners money U can adjust profit splits.. other wise I suspect nothing will happen unless of course you can tap your warm market that will do this because they like you.

Here's the breakdown:Financing: We used a seller carry deal with 25% down ($100k), a 30-year term (balloon in 10 years), and a 4.68% interest rate.

I have 10 years of experience in retail real estate and a couple of partners who are interested in investing with me.