I figured I would follow up on this by summarizing what the attorney from THS Law told me and how I plan to respond to this tenant tomorrow. 

(That Ive worked with at least or heard of) So to summarize after you were wondering about the working capital for rehab, you would need 27-30k plus of working capital in your name to get a project like this done.

Bloomberg published this article today to summarize a Redfin report that one third of home buyers in the U.S. are bidding on houses sight unseen:https://www.bloomberg.com/news/articles/2018-02-26...Most if not all of this activity occurs in hot markets.

So to summarize, if we said the cash distribution to you was $6k your capital account would be as follows:Beg capital                           $0Cap Contributed         100,000Loss allocated               (1,328) possibly receive a deductionDistribution                   (6,000) not taxableEnding Capital         =   92,672Depending on the deal you are in you may get a preferred return as mentioned above but that will depend if everyone in the deal is throwing in cash. 

To summarize, here are some of my key takeaways:- Popcorn ceilings are not worth the hassle of removing yourself.

Luckily your closing statement nicely summarizes that number for you. 

There are more details but I tried to summarize to make it an easier read.

He was right and lived to be 95.I appreciate your comments affirming what I did in paying off my mortgage, and I’d like to offer the following; I see two streams of thoughts amongst BP members, which I’ll summarize by pasting a quote by Scott Trench.

To prepare for it, just prepare a 1-pager summarizing the investment with what you laid out above plus some pictures an more background info on the tenant.For you personally or the entity that would be borrowing you or your accountant should prepare a balance sheet and income statement.

One of the more challenging thing in Multifamily is probably financing. in swaying that, once you figure that out it is easier. so to summarize, anything could look like a "big problem" if you don't know how to deal with it.