I use it like others use a personal website.

What stops the person with 51% ownership from…Hiring their spouse to manage the property @ 50% commissionHiring relatives for cleaning/maintenance at inflated prices.Blocking out holidays for their use. etc etc. 

For background this is my first investment and I own the property personally not with an LLC or anything of that nature. 

If your friend is a super responsible person I’d be troubled by this.

Personally I like Facebook marketplace but I get about 85% flakes who either just aren’t qualified or end up no-showing to the showings.

Appreciation and cash flow make up part of the calculation of the Internal Rate of Return (also including depreciation benefit and amortization of the loan).  

If anyone is interested I have a contact person who can provide more information. 

When you get them on the phone setup a time to do a zoom call, see how they do business, who the connections are they have, and if you get to know them through those conversations and feel good go meet them in person.

However right now I think in Dallas county if you have any type of government loan you need to give 30 day notice if I remember correctly. 

To address this, we agreed that I would work in the business for six months to verify the financials, which so far align with his POS system.My main issue is that at 23, I don't have strong financials to get a conventional loan at 75% LTV with a ~7% rate, and the seller's lack of financials complicates bank approval.