Little weary about the whole partnership thing so if anyone has any advice I'd love for you to share.Also, is it realistic for me to think I can do $150k - $350k in gross profit a year if I don't touch/spend my initial investment and profit?

If your siblings don't want to be landlords you can offer to manage it for a small % of gross rent say 5 to 7% to be fair?

I've heard of those guys charging 30-40% gross rents (compared to 8-10% for long term rental PM) to take the burden off these kind of "investors" ... granted, it is not likely as passive as selling on payments, but you have zero capital at risk ...

g=7wFf )Keep in mind, using the 1% rule of thumb (monthly rents ~= 1% of basis) and 50% expense rule of thumb (operating expense and vacancy ~= 50% of gross rents), unleveraged, results in 6%.

So important to have good colors and too many folks don't realize how important it is to sample square new colors and evaluate them at different times of the day, to make sure you don't end up with something gross!

It's grossing about 5k right now, operating income about 3k. 

As long as it takes, when i do qualify i will start buying and regularly vising the market meeting and networking with people on the ground.That Deal you posted Simen doesn't look like a deal, it is bellow the 1% rule (or 10% gross yield) and will get you nowhere. 

Once built out, I'd have a 4-unit with $3200+ gross rent.-  Initial asking price is $250,000 but with zero to no comps around here, I'm struggling to determine if its a good deal.  

Now let's look at the numbers (Monthly)Average rent/unit = $775Gross Income with 94% occupancy = $24,02550% gross income for expenses = $12,012Bank Mortgage payment for $1,875,000 @ 4% 30 year = $8,952Seller finance $375,000 for 6 years @ 4%, with interest-only payments = $1250Private money loan payment for $300,000 for 6 years @4% also with interest only payments = $1000Subtracting all expenses and debt service from gross income gives me = $811 in cash flow which I would set aside to use only on the property.

Yet, we'll still do over $1M in gross sales this year.