I am also versed in Novations, and owner financing.

. - Fortunately, our transparent systems allowed the owner to catch it:)- Full transparency - we would have never caught this honest mistake:(An owner also needs to be involved to approve & fund large expenses: maintenance, property tax & insurance payments (if they want to be more hands off), evictions, etc.A great PMC should also have a chat with you annually about your future plans for a property and your portfolio. 

Like in many other markets, only a minority of owners can get such figures (if they have a special property that they bought at a good price years ago for example) but the average buyer/investor will be sorely disappointed if he/she hopes to reach those figures.

SDE is calculated by taking the net income and then adding back certain expenses, such as the owner’s salary and non-cash expenses like depreciation and amortization.

DOS is for when the title transfers to a new owner (who has not been vetted by the bank, and without the bank's permission).

Most owners over value their property, and particularly if you are looking at off-market deals, that seller is not even motivated enough to list their property, so the chances of you getting a "deal" are very low.  3. 2-4 families don't trade on cap rate.4.

Are the new builds for owner/occupants or build to rent?

If I find a deal on an area I would consider living when I move back I would like to be able to pull the trigger and possibly refinance into an owner-occupier loan once I move back to the US.  

Hey BiggerPockets Community,I’m Steven Menotti, owner of Menotti Construction Group LLC (KB-1 licensed) and a fellow real estate investor here in the Phoenix Metro area.

Agreed on spending money, I would be asking the owner to purchase all of the smart locks himself as an investment into the property.