If I am right, you might be missing a step.

I am likely just missing it. 

Am I missing something here?!?

I have probably missed tons of small decisions that needed to be made to be on schedule hence the recommendation for a GC.

It's like being a novelist and people write a review that they never read the book but don't like the genre (happened to me- better to understand that some people are negative and walk with your head high).

Generally speaking in partnerships, and in all investments, people are looking for the best risk-adjusted returns.

I live in Phx,az and recently friend of mine sold his bank (ex bank of america) literally as is and profiteed $300k  , he purchased it right out cash last year (I think) and it was in real bad shape in a shady part of town,  before him taking possession of the bank  homeless people where living inside it an using the bathroom anywhere in the building, he put maybe less than $5k in just cleaning it up and just a couple of days sold it.Basically the idea is to find super cheap homes in ****** conditions but the price is so cheap that you could still make profit by selling as is, investing as little as possible..

When the city comes after people, they go to the owner.

Most people will not qualify for this, Fannie multifamily is simply not an option for someone new to this asset class.Bank - This is a Texas headquartered bank. 25 year amortization isn't the sexiest, but that's a human-attainable interest rate with very modest points/fees, with a short prepayment penalty.

We will use proceeds from the str to pay the note but may be missing some tax benefits with this structure. - The land was homesteaded under the same parcel ID as our primary residence as it was next door and will be carved out at sale. - We have lived in the house more than two years