I suspect when I add in the cost to convert to a duplex, your property may not show cash positive on my pro forma using a fairly high LTV (80% LTV?). 

Has anyone successfully used your 401k to form a C Corp and inject those funds into your Real Estate business? 

Most of the multifamily syndications seem to be around 7% cash on cash and 15% average annual return in the pro forma but in the last few years actual results have been better than that.  

You should target ~30% - 30% expense ratio (expenses/revenue).Also, the pro forma rents they have are most likely higher than what is in place because it's a value add deal and the goal is to Reno and then push rents.I've never used the valuation calculators before, but I would trust my own math in excel more than that.

I'm curious if anyone has done something like this before and who would know a thing or two.My next step is going to be getting this proposal/Pro-forma out to all of the interested capital groups that reached out to me when I first took on this project and see what everyone is offering.Thanks in advance!

@Drew Cheezum Re: Listing Criteria:-- 8%+ cap rate and 10%+ on the pro forma cap rate. -- Distance from my home (the apartments I bought are within 10 minutes of home)-- I actually appreciated higher maintenance expenses because high NOI decreases NOI and lower NOI equals lower sales point.

You can form a California LLC and register it as a foreign business in Ohio or you can just form an Ohio based LLC.

@Adam Thomas Welu the quality of turn-key companies can vary a lot, Here are some key things to look for.In general, the ones to avoid are the ones that: Don't allow financing or a finance contingency (it can be a good indication they are selling above market value) Don't allow for your own independent property inspection Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors) Require you to pay for any renovation upfront Sell only in cheap. low end neighborhoods Don't accurately represent the neighborhood/property classification Don't have consistent rehab standards for all properties Don't provide a scope of work for the property Can't provide references of repeat investors

Is it okay to complete the form as an outside agent?

Take a look at some current pro forma they provide you… many times you’ll find $150 cashflow on a $500k investment that includes income from illegal 3rd units and/ or no increase in allotment for taxes etc when adding units.