Once you hammer out the details on how he gets compensation (which 5 or 10% won't cut it), because of the liability he is signing for) you'll need to get yourself educated on the different deals structures you can use for each of the possible scenarios you will run into.A free resource is Flip with Rick, this website will give you a good starting point to work with.

Getting that match right is critical and, in my opinion, one of the most important location-driven decisions you’ll make.I’m based in the north/northeast Atlanta area and work primarily with investors, so happy to trade notes or help point you toward submarkets, deal structures, or local resources as you think this through.

You're absolutely right that the traditional $2-6k fee structure can kill the ROI on smaller properties.There's actually a third category that's emerged since you wrote this: automated engineering-based studies.

In those situations, the lender was comfortable since the overall leverage still made sense and the seller note was subordinated.This is structured with the first lien on a 30 year fixed amortization, with the seller note set up as shorter than 30 years.

A lot of these same houses from back then have changed hands 20 times in the last 40/50 years, with the same structural rental issues. 

Rates will be higher than owner-occupied conventional loans, but significantly better than hard money if structured correctly.

Always looking to improve it.Thanks John  I have a lot more detail in my spreadsheet.I have:a tab for every property (about 35)who owns it as in which LLC or which SDIRAtenants name and contact infoAC filter size, trash day, utility provider and contact info, deposits, last months rent if applicable, move in date, rent amount, late fee per lease etc.Major repairs and dates (Roof, HVAC, water heater etc)I have a automatic running tally of how much they might be behind, if anyI have a summary tab that shows all payments so I can see in one place monthly gross income per entity (IRA vs non IRA owned properties.My tabs are color coded by ownership (Non IRA, SDIRA, Sol401k etca tab that shows ownership by LLC, tac Map ID and page/book where recorded with the Register of DeedsMy Asset protection structure of what LLC owns lower level LLC'c and who is top level ownership (a Trust)I have my STR income broken out on a tab by direct booking, Vrbo and Airbnb a tab for amortization of any loans I have out and payments (one for non IRA loans one for IRA loans)I have a Cap rate tab that shows my ROI by property (some are over 100% within first 3 years) because I bought cheap for cash. 

DR Horton mentioned there will be two roads planned to dead-end at our boundary for “future development.”On one side of our tract is an additional ~20-acre parcel (no structures).

The key is building a simple structure so you’re managing a system, not individual emergencies.A few things that usually help:Have one clear intake method for tenants (portal, email, or form) so requests don’t come through texts, calls, and random channels.

Assets like stocks and metals are great for net worth and reserves, but they usually can’t be used as qualifying income unless the balances are very large and structured properly for asset-depletion guidelines.In your situation, getting a job is realistically the strongest next step if your goal is to buy with financing.