However, this evaluation has also become more nebulous to differentiate as many are using interest only for first couple years, then a bridge loan, such as a 5 year total with a three year (I/O) and then several one year extensions (3+1+1) and possibly an interest rate cap. 

Your agent should be supporting you on this.If the inspection was not completed within the stipulated period of time, then you have two options: walk away based on the partial results of the inspection or request an extension on the contract to allow for more time to complete the inspection.

Do you know how extensive the damage was? 

The potential investor(s) would be non-managing members in the LLC with a % ownership stake.Syndication: I've done fairly extensive research on syndication and from what I understand this would not be considered syndication.

There is an extension on the 5-year window for active duty service members because we often have to move for reasons outside of our control.

They are an extension of YOU and are the first point of contact for your customers (tenants).

Hey all,My partner and I are looking at buying our first investment property (a three-family) in Worcester and trying to estimate CapEx for repairs.The house we are leaning towards is pretty solid- we see around a 7-8% cap rate with the in-place rents and it is fully tenanted.However it needs extensive repairs on the siding around the back side of the house, as well as some general cleanup of the backyard/driveway.It’s clear the current owner has not cared to take good care of the property as there are several minor repairs needed inside the second unit in addition to a big pile of trash in the back yard, plywood in place of siding in one section of the house, and several boarded up windows and doorways that appear to be remnants of a section of the house that was removed - likely a previous back porch setup for each of the three floors.There also appears to be asbestos underneath the wood siding - I’m not sure if this indicates we might need to remove ALL the siding and asbestos and redo the entire exterior or not.I haven’t measured the exterior yet but will be doing so this week, I’m just wondering if anyone has advice on what to expect or how to ensure we don’t get screwed by contractors if we do move forward with this property.

I did extensive research on the subject based on the definition of "doing business in this" based on the rules in multiple states includes owning real estate where there is a tenant of any type of commerce. 

Hello,As the house I am purchasing needs extensive repairs to rehab it, I am wondering if insurance companies would insure the house and if they don’t what are my other options?

Going to local REIAs has been one place I have connected with folks doing small developments or really extensive flips.