Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

Anyone can put together a pro forma and tell me what the projected returns are, but that doesn't mean squat.

I would identify a market based on your current capacity and begin to network online and here on BP to form a solid trustworthy team to help you get going. 

Here is the pro forma financials for the property……………they assume 150% occupancy and a 150% rent increase 9.

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

If the existing mortgages were at current interest rates, the P&I would be about 30% higher and the pro forma cash flow would no be much more than break-even.

When I started looking at the properties listed and their pro forma, I realized that in the name of “hands off” investments, they’re ripping off people.

It comes down to what your pro forma is, and what lenders are willing to lend on the property.75k per unit for 550 in rents in Dayton is probably over valued, especially if there is deferred maintenance.

Ive seen many attempt to DIY on their own form a distance and fail.  

You probably want to form a general partnership or limited partnership.