My partner and I have a combined income of 7k
We are looking to purchase our first property, a condo for investment purposes and not to live in, hopefully a RCR, 1-2bdr
Downpayment wise, we have been given 100k and 50k by 2 benefactors respectively who are interested to invest with us, on our side we have cash 50k total making up 200k. Monthly payments will be made by us.
We retain control on property and will be able to make decisions on how to exit.
Was hoping to get advice from old hands here on how we should approach this arrangement to manage the cashflow from rent upon TOP and eventual exit? Do we return investors' share of the rent? And if yes, what exactly will be their share?
Thanks!