There were broken water pipes, broken heat pipes, ceiling and floor damage, carpet damage, furniture damage, etc, costs $46,000.If they had hot air heat, they could have turned the water off and drained the lines and would have had little or no damage.We often use a plumber to winterize, they drain the lines and blow out all the lines with compressed air and put RV antifreeze, non toxic in all the drains and toilets.

The soil compressing because of significant drops in groundwater levels.

:I have not used a mentorship program personally, but they are generally a gigantic waste of time, there is no secret of how to invest in real estate that these people would be able to teach you.There is no secret, but many have found value in being part of a group where they can surround themselves with people who are already doing what they want to do, so they can compress the learning curve, and be taking down a 100+ unit deal in 6-9 months, instead of say, two years (or never).

@John SuttomWhere I am from it almost makes no sense to do it..Multi family the cost to build including permits, development charges and just holding costs until completion you won't gain much equity.. unless cap rates compress quite a bit during that period and rents increase.. so overall the time value of cost is not worth it.. you mine as well find an existing building ans deck it out..

I think in general CA doesn't make a lot of sense just because the tenants friendly laws and regulations , compressed cap rates.

As in all things in life (like choosing a spouse)for instance, it's incumbent upon us to examine our individual personalities regarding whether a proposed partnership would be a good fit or a disaster in waiting.In 2007, when I lost more than $130,000 in the stock market,I learnt a permanent lesson that stuck with me till today.I discovered that I was a control freak.I needed to always know how my actions directly related to my results, and most often like to retain the ability to change my mind even if others would find such reversal a stupid idea.Seeing how much control I didn't have on how my stocks performed in 2008 despite all the information I had consumed for several months regarding value investing and how to analyze a company's fundamentals scarred me for life.It made a real estate investor out of me.The safety and assurance that I was taking sole responsibility for the calls i made and the risks I decided to take was a calming refuge.Having been a Pro-member on BiggerPockets for as long as I've been has its perks.It gives one a front row seat to see in slow motion the interesting evolution of the component parts that make up this mammoth industry.I watched in amusement as one member arrived as a total newbie in 2018 with a welcome post, voraciously consuming unsolicited counsel on the member forums for a few months and then posted a "success story" of his deals after 6 months.Within a year, he had his own podcast and is now buying large apartments as a syndicator pooling investors' money.To be clear, this is not a hate post.I certainly do not begrudge people "crushing it" in record time.Nonetheless, as a 'senior' member of this community who has seen this movie before,I do feel a lonely cautionary voice in the wilderness is needed at this point.We are in an environment of unprecedented cap rate compression and record low interest rates which is only headed in one direction after this is all over.Yes, make no mistake, the music will soon stop.That has very little to do with an upcoming election and is regardless of who wins the White House or who controls congress after November.If you've listened to Kevin Bupp and Rod Khleif, you know what happened to their portfolios in 2008.These were no amateurs, as a matter of fact, they had many years of investment experience when the music stopped.They both weathered the storm and came back stronger and that is why I remain a shameless fan of both men till today.Several others were not that lucky, and you will never hear their names.In this space today, there are investors and there are educators.The educators have taken over the habitat.That is why there are now more podcasts on real estate than I can get through in a working week.Real Estate education is so very lucrative now that it is possible to make way more money from podcasts and books than in actual real estate investment for some gifted marketers with smooth tongues and gifted content creators.We are in the information age after all, and youtube millionaires are now perhaps outpacing patient real estate buy and hold landlords in the passive income/ cash flow game.Belonging to a $25,000/year mastermind and attending a syndication bootcamp does not insulate anyone from catastrophe.

@Oye Dosumu cap rates are very compressed in Boston and it's tough to make a deal pencil.

For industrial and multifamily cap rates had generally compressed over the decade prior to 2022, and don't seem to have expanded much despite rising interest rates, I don't see them compressing more, and I think any increases in rents will likely be more than offset by increased debt service costs.

With what you've said so far, HMLs will rip you on rates, returns are already compressed right now, so that 10k will go very quickly. 

Now in todays compressed market more in the range of 10-13% for the passive component and the active investments more like 25%+.