Then, the same as for the first….total amount of hoa fees owed, a few thousand for attorney fees.Understand that very few of these will have any equity and if there is, the pros that analyze and bid at these auctions Every Day, know how to do the math too.

My math has all been conservative and assuming no appreciation/increase in rent/loan paydown which makes CA rent/own ratio's look bad.

The Treasury Dept is floating 1 Trillion a quarter now in bonds, because we frickin' Told them to, and that huge supply drops price and raises rates, and every year its gettin' worse, and even my math tells me the rate of change is accelerating.

You will quickly learn that most MLOs suck at REI mortgage math (hell, just read this website), hence all the fumbled pick-me-up deals.

This is the fundamental reality of it, the differentiator, and as long as people get basic math they will choose VALUE over cheap. 

Its just math. 

Now you need to do your homework on the areas in regards to zoning (are you building from scratch?)

What we see problem with multifamily syndication is really a math problem rather than syndication problem.If spread is negative than the chance of investment poor result is obvious.It's similar like if you buy company stock at three year high, but their forward looking order is decreasing without new product.

Look for rental comps in the area and check the math.

Hard to make that math pencil out.