We are based in NYC but are considering (as of now) locations outside of NY but within a 300 mile radius. 

If you are raising capital from people you don’t have a prior relationship with, and even people who you do, they would regard you as serious only if you had a professional prepared PPM and Operating Agreement.

@Hank Bank where are you located?

@Ray Hage thank you for your example, and can say I've done the same thing for as long as utilities are setup prior to move in, security deposit is paid, and first month's rent in full is paid.

@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.

@Joe Gellenbeck Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

It's a 5th wheel located at a campground.

A lot of it has to do with location and time.If they are local owners looking at 1-2 LTR properties, I'll assist with identifying cash flowing/near cash flowing properties, assist them in the purchase as their buyers agent and assist with tenant procurement, listing, etc. but they can typically handle day to day management from there.Furnished properties, whether that be MTR or STR, are a lot more involved, as I'm sure you're aware of!

If you are a DST investor with Crew Enterprises a.k.a Versity Investments a.k.a NB Capital with suspended monthly distributions please PM me. I am aware of the properties at Wolf Run in Reno NV, Inspire on 22nd in Aus...

Something simple along the lines of, no pets due to small shells and turf located at property that may hurt pets, would dissuade even service animal owners.