If you're a sponsor looking to get inside the mind of professional and highly sophisticated investors like Jeremy, do not miss the next Best Ever Conference - Assuming we get to hear from him again (please??)

MF owners usually are sophisticated investors and if you start defaulting on the note they can and will foreclose on you (and they will probably know how to do that).As @Jeb Brilliant said, keep some "padding" in the bank to fall on if something goes wrong in the first few months of ownership.One last question, if you can't afford the DP how can you afford the 170K renovations for the second building?

Mike,As several posters have commented it depends on the market, your level of sophistication as an investor, how much work you are willing to put into the selling process, etc. and I very much agree with the comment about agents needing to add value.In fact, I would say that if you are willing to do the work; price it right, stage the house, market it properly, promptly return calls - as the owner you can do this yourself and just pay the selling agent (if one is involved).

The larger countys should, but the smaller ones just don't have the sophistication.

Thank you for pointing this out @Lemont WilliamsPlease inform the thread applauding podcast 109 right now that wants us to over-sophisticate everything.  

If you can find one that operates under Reg D 506 (b), the sponsors can accept up to 35 sophisticated / non accredited investors.  

D, Rule 506(b) offering allows for up to 35 non-accredited (sophisticated) investors.  

Sophistication of sellers and availability of supply are different.

Also note that this is a contractors salary not a w2 worker,  so I would not directly compare the salaries to a standard job without making adjustments for payroll tax,  health care, PTO, etc. 

The level of sophistication will  depend on your activities and that can be unrelated to the number of doors one owns.So, it's best to speak to an accounting professional, specialist or CPA, and in 15 minutes they may tell you how sophisticated your system  might be.