We target 100-300 unit properties built in the 60's-90's in several markets across southeast and midwest.

We target 100-300 unit properties built in the 60's-90's in several markets across southeast and midwest.

At first glance I thought I could target a sales price around 60k, so 28k purchase would be good.

So really right in line with historical stock market returns.The beauty of real estate is the it is 1) much easier to buy advantageously (get a good deal) than with stocks--at least for the average person, 2) you can also buy, even without leverage, properties that out perform the stock market, and 3) you can safely leverage 70% to 95% without much difficulty, making your money work much harder for you. 

It is often easier to finance a property if purchased as an individual. 

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We live near a University that has no dorms and had a college student stay with us in the past and I think that is likely the demographic that is most likely to target. 

It might be easier to pick a market and call a few property managers to ask them questions about the local market to get a better understanding of what is in demand and where, current trends etc. 4. 

Would it be easier to write a specific contract for each sum he transfers to me and have 5 or 6 individual notes with descriptive verbage on the terms?

It makes it easier that you’re the owner of the equity, but your partners will want to be covered too.