That way for little money, you can greatly improve the curb appeal of the house and justify raising rents on the property, adding more to your income.Let me know if you have any more questions

The agent value comes in analyzing the value, neighborhood trend/knowledge, how to read/research the seller as to motivation, protective and trap clauses in the wording of the contract, which lenders actually perform, which title companies to avoid, which inspectors to use/avoid, how to negotiate when problems occur prior to closing, etc, etc.....all of which You you are not experienced/competent in.So, You decide.

When you analyze your equity position pre and post project (acquisition) - the longer the project takes you, the worse you're doing from a performance perspective on that equity analysis. 

So here's the ultimate conundrum:- sometimes I pick a few benchmark properties in my target area and track them to see how they're performing, BUT... you never know which dates are true revenue dates and which are simply the owner blocking the unit for their use!

Please note that he is obligated to pay back their 401k loan (regardless of the performance of his real estate investment with you).

Some states will allow homeowners to perform their own electrical, etc.

My private lenders know that I can perform so it’s all based on a handshake and trust.

I'm sure you appreciate that he's taking good care of the house and doing small improvements, but as you said your costs are going up and you shouldn't be expected to supplement his living there.  

It all depends on location and quality of the golf course.One of the great aspects of a golf course in terms of depreciation, is that a very large portion (sometimes up to 60-80%) is actually land improvements, which depreciate over 15 years as opposed to 39 years.

We cleaned up the property while living there and made some improvements What was the outcome?