I worked with Shelly Thompson realtor in Milwaukee and my property manager, Structure Property Management.

I worked with Shelly Thompson realtor in Milwaukee and my property manager, Structure Property Management.

My wife and I live in Edmonds, WA, and we own and operate one STR in AZ and we are working on buying our second property (likely in PA or FL).Thinking ahead to our third property we want to explore a partnership model and we need some education and guidance for how to structure things safely for all parties involved.

Owner is willing to owner finance but how do we structure it being that his mortgage is for all 3.

I structured it as a refinance with Fannie Mae and so long as the appraisal came in high enough it was workable, and it did.

Pay attention to this upfront>>Will you be required to build a fire Station along with buy fire engines if you exceed X residences--required by a municipality or required to have your built structures qualify for market rate insurance polices...because if the insurance on the structures is 10 times normal the valuation of the structure might be very very low.Pay attention to this upfront>>>Can you get the skilled labor (and CONCRETE) out there in a reliable manner.

Structural repairs are not allowed, such as room additions, foundation repairs, etc.

I am in need of a structural engineer urgently to evaluate some cracks on a multifamily home in Jersey City.

or other structural warning signs like large notches cut out of floor joists to run conduit? 

However, I am curious for more details though - Which structure was torn down?