I expect the project to be ~1.7M and am raising ~600k to cover planning and initial costs and financing the remaining 950k (750k/1.7M = 44%).My neighbor is considering selling me their (larger) property for 600k that is wholly owned but has very high cap gains pending.We are both concerned with minimizing fees and tax penalties.They are open to an idea I proposed where they would transfer the property to me in exchange for a comparable position in a LLP limited partnership stake in my project which would enable me to take out a HLOC sufficient (or nearly) to fund the project and buy them out, plus interest, in a chunk once complete/over several years.Another thought was to owner finance with payments to them spread across say 5 years from the added value to the developed project but it seems that muddies the ability to establish an equity line that they aren't affiliated with.Ideas?  

However; maybe someone with experience in turn key will jump in, @Jay Hinrichs to explain more precisely.

I'd also add Watermark Exchange as another site to get familiar with notes.I hope this helps.Bill

Interesting - I took a look at a 4/2 in that precise area (also built in 1917, also 2200sqft), and what turned me off of it was the fact that it was the biggest, nicest house on the street (by a pretty significant margin).  

As the GP, we received more equity interest in the deal in exchange and as a condition for the refinance, allowing our passive investors to fully cash out+profits.   

I get $900, $1000, and $900 in rents after all is said and done.I am set to retire in a year and looking to 1031 exchange these homes.3 questions;1.

Leaving me with 50k to do a 1031 exchange to the LLC to repurchase the same property and becoming 50/50 partners on the duplex through the LLC??

I bought this property as a flip, and the market crashed while I had it listed, so I've been renting it and waiting for the market to come back for about 9 years.I have had to deal with evictions, drug dealers, city code enforcement closing down, and now a mice infestation from the neighbor letting garbage pile up in their yard.I want out.After evicting a tenant from the house years ago, the place was trashed and I rented it to someone "as is" in exchange for lower rent.

I bought this property as a flip, and the market crashed while I had it listed, so I've been renting it and waiting for the market to come back for about 9 years.I have had to deal with evictions, drug dealers, city code enforcement closing down, and now a mice infestation from the neighbor letting garbage pile up in their yard.I want out.After evicting a tenant from the house years ago, the place was trashed and I rented it to someone "as is" in exchange for lower rent.

Looking to exchange opportunities, ideas, deals, and hopefully build nice portfolio for myself and others.