Then he is going to hire subcontractors to do the job and you are going to pay them for that work as well.  

This is a structure we’ve implemented with our private investors, and it’s been working really well for everyone involved.Here’s an example of how tiered returns might look in a lending scenario:Investment AmountAnnualized Return$100,000 - $249,99915%$250,000 - $499,99916%$500,000 - $999,99917%$1,000,000 and above18%Why Use a Tiered Structure?

It's well over a million, well over. 

You already have a PM, so how is someone else going to manage it as well ?

WELL, thats what we planned so far.

If you haven’t already, I’d scope out the municipalities around town.. from what I read in The Economist, the Phoenix metropo area continues to rank high for job growth, which usually bodes well for new builds.

If the deal is in a good area, well taken care of, generates income, and will attract good tenants then i wouldnt worry about anything else.

There are a lot of idiots out there overpaying for deals right now...well...that always seems to be the case.

I wish them well. 

. - Manzanita, Arch Cape, Cannon Beach, Pacific City - Already well established as the more prestigious zip code on the Oregon Coast and just a quick drive from Portland this northern coast region offers premium restaurants, experiences and accessibility.