If you have a shovel ready property to possibly sell or to value on a pro forma for a bank.

@Benjamin Carver Hi Benjamin, there’s a lot to unpack hereYou need to run a pro forma on each scenario and set them side by side to compare the results to know the answer to your questionsFeel free to to DM me if you’d like to chat BTW: where in Colorodo are you working?

If so, what makes a syndicator different form a REPE firm?

Aside of things like properly identifying parties, property, competence of the parties, mistake, fraud, meeting of the minds, etc, there are three essential elements required to form a binding contract:Offer - one party offers to sell, lease, or otherwise transfer ownership of an item to a buyer.Acceptance - the other party accepts the first party's offer.

The details of construction and pro forma for multi-family seems to intimidate single family investors, in my experience, so it seems to take a different kind of people that GET it. 

Here's the details:This is a Duplex 2 bed 1 bath Monthly Income: 2,000 Monthly Expenses:1310.00 Monthly Cash Flow:689.00 Pro Forma Cap Rate:8.53%NOI Total: 17052.00 Cash Needed: 28,327 Cash on Cash ROI Purchase 29.19% Cap Rate 9.48%Property InformationPurchase Price: $179,900.00Purchase Closing Costs: $3,559.00Estimated Repair Costs: $15,000.00Total Cost of Project: $198,459.00After Repair Value $200,000.00Down Payment: $6,296.50Loan Amount: $173,603.50Loan Points: 2.0Loan Fees: $3,472.07Amortized Over: 30 yearsLoan Interest Rate: 3.000%Monthly P&I: $731.92*This link comes directly from our calculators, based on information input by the member who posted.

There is a price and a pro forma.

Are they using T12/in-place numbers or pro forma, or likely some combination of the two.

You should run so pro forma numbers factoring in the differences between the higher taxes, insurance, principle and interest and see if your money would be better spent buying 2-3 cheaper $100,000 rentals versus one $300,000 unit.  

I think of it as if I non-biologically created another "person" when I form a LLC.