This is a typical builder ploy to keep the fee low by subsidizing the HOA.  

Here's the link to that https://dor.sd.gov/Taxes/Business_Taxes/Publications/PDFs/CETGuide.pdfAs far as analyzing your deal, it's a no-go for me. 50k purchase and 20k rehab (pretty low estimate, and you have to build in a rehab contingency percentage for things going wrong) only leaves 30k for all of those costs, and with a 100k property you're looking at potentially 5-6k for the realtors alone.

I was thinking that this could all be counteracted by just a really low offer with an explanation of all the issues.

I believe in steady & stable growth and so my goal is acquiring one new property every year.That being said, it seems that inventory in our area like others is low and prices are getting up there.

sharing of revenue profits or lossessharing of capital gains or lossesis any payment to be made to either other than as share of profits, eg for ongoing serviceswill the participants be operating a ‘salary/dividend split’ – ie taking their month by month requirements by way of low salary, balance as dividends?

@Amy Kendall We have mainly done lease-purchase and owner finance, but the numbers on STRs definitely caught my attention, so we're exploring that now.We like Cobb for the low taxes, but we're invested in Gwinnett, Fulton, DeKalb, and other Metro Atlanta counties as well.

Most other banks I contacted, they offer Prime plus, which is at least 5% plus some 0.5% or more, which is similar to what they offer at 5.25%, but with their special offer at 3.99%, it seems very low.

Another reason I like apartment complexes any vacancy does not usually hurt you like it would in a residential multifamily place would.Some Private Lenders will also lend to you including any repairs but I understand the importance of using a Bank to get a "house hacking" loan and its low down payment.. 

The gap between the ARV and buy price is very low, a key principle I follow is if that gap is $120k so that there’s more profits for you as the wholesaler and for the rehabber.

I'm so used to my nice, cushy, low maintenance properties here in Los Angeles with perfect tenants that probably contact me no more than once a year for very minor issues...