$1M multifamily investments in TX/OK

[Samuel Scott]

Hello! Newer investor looking for feedback and suggestions on a strategy that's being formed.

A few partners and I are interested in multifamily properties within a couple of hours of the DFW Metroplex. We think that, based on the amount of equity we can pool together, our sweet spot will be properties in the $1 million range.

Right now we are thinking Class C or B- properties with rehab needs. We're still forming a team and recognize we'll need a broker, counsel, lender, and CPA/tax help. 

If anyone has had success with a similar strategy, has some good relationships in the space, or any advice it would be much appreciated.

A specific area I'm interested in feedback on is how these kinds of investments get structured. Assuming there are only 4-5 of us, it seemed like the least burdensome approach would be a partnership where everyone is a GP (and active in management in some capacity).

Thanks,

Sam