Was wondering if I could turn one of my spaces into an assisted living multi-tenant facility as it’s in a great area for it and can be changed with a reasonable rehab.

These questions come to mind for me: Is your credit card limit large enough to fund the purchases and rehabs you are considering?

@Joey Chalhoub This decision should be read narrowly to address statutory frameworks such as MN where state law permits it to take property to satisfy real estate taxes/penalties/interest, sell it, and keep any surplus outright.

Consider consulting a CPA and attorney to address tax implications, liability, and ensure proper documentation for your multifamily investment partnership.

Direct mail to this address for 8 months.

Do you have experience “flipping” or managing rehabs, or hands-on?

You cannot deduct your rehab costs until the property is in service. 

I put $20k into rehab and have had it listed for 50 days at $235k. 

I have a hard money lender established to cover 80% of the purchase and 100% of the rehab, so my capital partners would be covering:20% of the purchase priceRange of $30,000-$50,000 cost of capital25% of the renovation budget (to kickstart the project while waiting for reimbursements)$25,000 contingency padAny tips would be great, and if you happen to be interested yourself I can send you more details.

We do not use the credit score, we use the information on the credit report to gauge how long they have lived at addresses and what kind of judgements they have.