Also don't bank on appreciation "saving you" and you will definitely be spending a lot more than you would think on maintenance.

Are interest only payments made to both the PML and a HML/bank during the rehab?

@James BruntfieldHello, call the small local banks in Schuylkill county.  

A loaf of bread is $7.The last thing you want to do is lose a great cleaning person over $25.

Thus whatever deal the person is marketing better have some strong financials and considerable equity of their own in the deal.This is just the reality of todays market place

It sounds like the title will be transferred to a land trust, and my LLC or I personally will be the land trust beneficiary.

As that will at least help folks that you reach out to know that you are a real person, with a picture and professional bio.

Instead of asking for a full 100% from a partner, just raise money from private lenders to cover the down payment and make sure you work with a hard money lender that allows you to get your down payment from somewhere other than your own bank account.

I’m aware of what material participation is, i just wanted to see if anyone has personally done this and if there were any issues or pitfalls with doing it.buy a million dollar cabin, cost segregation, 200- 250k tax deduction against w-2 income and rinse and repeat?

I prefer to utilize a broker lender because they generally have access to more unique loans, however I do know some BANKS or credit unions have inhouse portfolio programs available that don't exactly follow fed guidelines, which may also be good options.