Brian Burke: We've kept the waterfall structure the same.You can see here.We used in this case, We used in this case, we used an 8% preferred return, and then we had three waterfall hurdle tears.The investors got 70% to 12 60% to 15.And then after 15, they got 50 50.And we've essentially I've been using this waterfall almost since I started way back in the beginning.Every once in a while, we might alter something here or there because we feel the need to.But too many times I've done that and been completely wrong.We had a deal that we did about three years ago where when we underwrote the deal, I felt that we needed to juice thereturn a little bit more.And so we switched the waterfall to an 80 70 60 instead of 70 60 50.And at the end of the day, when we sold that property, we delivered to our investors like a 32% IRR.And now I'm kicking myself like we really didn't need to do that.We could have left it.Just as this waterfall is here, our investors would have got a 28 IRR or whatever and been thrilled to death.So I tend to leave the waterfall alone most of the time.

Now for the juice, how on earth was I able to sign these deals???

The lowest hanging fruit the insurance coverage because the insurer is most likely to pay out. 

You can always revisit rezoning later upon sale if you want, but for now, I'd recommend not in order to keep your tax bill / insurance bill low and really juice your margins. 

The juice aint worth the squeeze.

Ditto for fruit that has fallen off of trees.   

It's a great way to build your business and enjoy the fruits of your work.If you would be interested in talking to a full service note servicer I would be happy to discuss our investor services for seller carry back transactions. 

@Jon Holdman and @Bryan Hancock have outlined some salient points that clearly present a challenge or road block to the method you plan to use to acquire these properties.Why not take a step back and try for the lower hanging fruits or smaller multifamily units, which you can use as a springboard to future higher capacity multifamily purchases?

Perhaps to most realtors this is a brilliant way to do business, but it seems like when the seller and buyer agree to price and terms and the contract is there ready to go, you give it to your client to sign, not start calling around to juice up the price and sit on it.

I' interested in utilizing crowd funding but was not sure if the process would be fruitful.