Renovation costs would need to be financed separately.Private Lending or Hard Money: Use a private or hard money loan to acquire and rehab the property, then refinance into a joint long-term loan.Seller Financing: Negotiate terms directly with the seller for a flexible financing arrangement.Final ThoughtsUsing an FHA 203(k) loan for your first property is a smart move, and with the right partnership agreement, you can still achieve your 50/50 goals.

What are your investment goals and can you achieve the same results with other asset class?

@Caroline Gerardo  @Thomas LebensCaroline - From the info you are providing, it just sounds like I just have a broader list of DSCR wholesalers at my disposal that offer better terms than those you are using.Thomas - The bottom line is that you can definitely use a DSCR loan to meet your needs and achieve your investing goals.Have a GREAT weekend!!

+1 For Roku with Guest Mode.If higher end I would recommend live TV which can be achieved with Cable (Spectrum for me) app or with something like Sling or Youtube TV

Listening to the Audio book of The Book on Managing Rental Properties. There were a couple of times I ended up a landlord by default in the past. The 1st red flag question he went over made me laugh. (It's funny now) ...

I know it may sound as a BIAS from my side but I think this should NOT be legal to put covenant, see my logic here a builder build a whole community and one part of it is rentals the rest is single family, they put covenants and restrict the market to rent by room just to ensure they can rent their rentals that is a sort of monopolistic behavior and should not be legal.

We found out the potentially the whole block has led pipes so we are needing a contractor to cut a hole in the floor.   

May only question now: if I was committed for a whole year, what would the result be?

Yes, but that's our whole business model, so it's not terribly surprising to us. :)You're in the right forum to learn about MTRs.

If so, that's your prime market to start in because you have a competitive advantage of boots on the ground you trust of personal knowledge.If I were you, and new, I would not do fixers, I would buy turnkey or rent-ready properties or you are going to have to trust a whole lot more people to do what you want to be done.