I do understand your reluctance, but not sure why it's a bad idea if the proper protections are in place.

It really is eye-opening, and the concept, if properly executed, with funding, logistics etc -- all these things I'm no expert on, will make this truly a huge change for the city of Atlanta. 

And he said I would pay the mortgage directly.

@Basit SiddiqiAgree for example would you rather have 13% net but deal levered 75% or a deal no levered at 8% net.On a 100k investment I would take the 8% deal every day as I will gladly pay an extra $5,000 to reduce my risk substantially since in option 1 the deal can go to zero in option 2 realistically it would be really poor management if it lost more than 10-15% of your capital.

Start depositing all of the rent into that account while paying expenses for that property out of that account.

This tenant seemed really nice, let me in to inspect the unit, but already started talking about how they were trying to find funding to help pay the rent for July. 

At the end of the year, he would file a tax return and get the withholding back from the IRS after paying capital gains on the 15% withheld amount.

We could probably charge a little bit more, but most snowbirds are senior citizens on a budget so I feel we're close to the top of what they will pay. 

I pay a significant income tax each year.  

As a Spark investor, you are effectively paying double fees (Rise48's and Spark's) and then the cash flow coming from Rise48 is stripping 30% off for their carry, and of the remaining, Spark is stripping another 20% for their carry.