Hi BP Community,I’m looking into my first out-of-state multi-family partnership with someone that already has experience in the local market and connections to the operational teams required to make out of state investing successful.

Some good questions for him to ask each potential company are:- how long have you been in business- what is your fee (be specific on the number of properties involved and if it's forward, reverse, etc)- where is your operations staff located (ie where will be funds be)- what type of account will my funds be held in? 

The team of Charissa Napoles the realtor and Robert Mincey at operation tango yankee inc have told me this second property was just a full rehab.

@Devin James My bet is on that they close. 

Some even bet against the market and made a fortune.

Legaly all rent by the room operations are in violation of hotel, zoning, and rooming house regs. 

I've read a lot of posts in the forum here on the pros and cons of this strategy... what I would love is some insights from actual PadSplit hosts on the assumptions/operating expenses to take into account when evaluating a property.

Essentially, I am betting that rates won't go low enough where it makes sense to refinance.

Do you have the professionals you need to start an LLC, do the proper real estate/tax accounting, solid contractors to rehab or prepare the property, and a property manager to handle the day-to-day operations? 

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