Your specific variable expense assumptions are wrong, BUT you stumbled into them being correct overall.Also, you are approaching this correctly - entering in the numbers to generate a purchase price that meets your metrics:)

When the tenant moves out and the funds are distributed either to the tenant or the landlord for damages, then the subaccount for that specific tenant has a zero balance and that subaccount is closed. 

Jorge is putting out a letter in a week or two with specific numbers people are asking about.

.- Depends on what you're doing specifically, but usually I'd recommend getting an EIN at least to give access to business bank accounts- Repeating #1, if you're going to a property and 100% of your time is spent doing renovations and the like, sure, but if any of it is for personal benefit, that'd be disallowed.

Here’s why I’m asking: I have an Excel model that analyzes deals for a specific region.

Multiple investors with decades of experience, some GP, some LP, some skeptics about the entire business in general sense and some bulls who have gotten rich from investing have all chimed in on this you got links to specific case studies from Brian Burke, a seasoned syndicator, a guy check from Melanie p, who makes it a part time job taking the trash out and exposing the shenanigans of one syndicator after another.Greg Scott has an excellent reputation on these forums, and provides a counterpoint to Melanie’s skepticism.

Here in NY if I wrote a cash for keys agreement, it would have to be filed in specific legal places with certain documents and notarized. 

Best regards, This approach is neutral and objective, focusing strictly on the criteria, and avoids discussing any specifics about the applicant’s personal situation.

If you have specific questions about property management, I'll be happy to help!

., the specific procedures laid out by the SEC in Regulation D.