You can then take some of the profits and buy some quality RE, which will probably just break even for the first years, but that's not why we buy real estate anyway..

@Vernon Welch II most tenants offering to pay their rent upfront are trying to compensate for negative qualification issues.NEVER override your screening process just because someone offers to pay several months upfront!

I just took the following numbers and pasted them in a repeating pattern into the Vertex42 spreadsheet on 10 month intervals starting in month one: 309.38 308.44 307.50 306.56 305.63 304.69 303.75 302.81 301.88 300.94I took screen shots of the Vertex42 spreadsheets that shows the total payment amount and total number of payments made.

Buy quality, if that means every 2-4 years not annually so be it.

That could mean poor tenant quality, which could lead to them not paying or eviction.

However The barrier to entry in the REI teaching business is very low and a lot of bad players join the game.What you describe led me to come up with Ned's Rule of Gurus.The quality of an REI course is inversely proportional to the price

Which is easier to deal with than a non paying tenant.Once they're gone, you'll need to tighten up your screening process or find a PM to take over.

Sponsor quality far surpasses the "deal", assuming a qualifying criteria for a "good sponsor" is that they don't buy crappy real estate deals to begin with.Having said that, if a great sponsor is offering a deal you don't like for some reason, don't invest in it--just wait for the next one. 

If you flip your flooring upgrades and appliances will probably need to be of higher quality vs a rental.

Somehow I don’t think this investment offering would have passed your syndicated investment “screen”.