It's hard to find a "perfect" market that is knocking it out of the park on all these parameters. 

Focus on running a clean operation rather than perfect technical compliance.Pro Tip: Your biggest risk isn't the IRS - it's partners who might complain to the IRS.

@John Lasheri agree with you, you'd be surprised at how many people listen to Grant Cardone though, and decide that they're going to go buy a 100 unit with 'OPM' as their first deal and quit their job.i think buying something of that size with a few partners is a perfectly good goal. 

Quote from @Nate McCarthy: @Jake Andronico, thanks for the input--I agree that any deal I would propose would have to be compelling to the seller, hence this think tank!

Its market-ready condition and strong local demand made it ideal for a fast, profitable transaction, aligning perfectly with Partner Driven’s strategy of securing high-yield properties in promising locations.

And don’t overthink—your first deal doesn’t have to be perfect; it just has to get you in the game.You’ve already taken a big step by asking for guidance, so keep that curiosity alive and stay consistent —let’s crush it!

No deal is perfect, and anyone on these forums will have different investment objectives as you, but you will typically get some things to at least think about before moving forward.

Perfectly legal, no hassles.

Chris summarized it perfectly.

Your approach to finishing the basements in order to extend the number of years a tenant stays in that unit makes perfect sense!