I work with an exclusive group of investors to source off market inventory in Philadelphia and the surrounding suburbs and get some pretty good inventory at a high volume in the neighborhoods I mentioned above.

That way, people could order food/drinks if they wanted--especially since it's held right in the middle of the dinner hour.

As far as just handing out sources there is no business where someone would just hand it out to a new contact.

oooh.. secondary point... there are other sources, publicly available sources, for a useable portion of this data depending on the county. 

You claim no debt on the portfolio, and since there is probably no feasible way to earn that 1.8MM net in your day job, you would have had to be procuring properties for dirt cheap, putting almost nothing into them, and having them appraise at that 150k value.Not calling b.s. on this, just saying that the numbers are suspect, unless you're able to source 10+ deals at rock-bottom prices and put almost nothing into them in renovation costs.

@Yi Hao Liao Iam sure you will find many sources saying don't bank on appreciation.

When anything goes wrong, the only outside party who puts up cash is like food in the desert, and the vultures move in.

I would disagree with @Ronald Isgate (I do respect your opinion though I've seen you on here plenty and know you are a knowledgable source) in that there are a number of hard money lenders who now have long-term products.

I've been investing in Cleveland for 3.5 years and most of our deals are either self-sourced (mailers, door knocking, people that scout for us) or we contact the LA directly because the property is on a street that we want. 

In fact, for a partnership, filing is NOT required if there are no sources of income, deductions or credits.