Have you ever seen a proforma painted in a negative light?

I have been trying to talk to the sellers about the benefits of it for both of us but between work and ignored text messages it's kind of a struggle.To answer your questions:• I have done two light renovations on the apartments in the 3-unit that I own.• I'm expecting that renovation would take less than 12 months (and that's with me working a full-time job on top of it).• I estimated that the repair costs would be close to $10k. • My final plan is to rent the units as long and medium term rentals after refinancing and buying out the seller.• I do not currently have enough liquid capital on hand to put down 20% for a DSCR type loan.

@Randall E Collins  I believe Stuart was making light of how most approach syndications believing they are easy.

I had a terrible experience with them, mostly because I missed/ignored all the flashing red lights. 

Whenever I walk investors through the math then the light bulb goes on.

These must be extremely light rehabs, I’m doing what I would consider a very light rehab, with honestly maybe a minor step up from builder grade, 1200 sf, 1 bath house, materials alone are 25k

You can have the best security cameras, and lighting, but guess what-- the streets know when a house is vacant. 

Don't take it lightly and don't waste time looking for anything remotely conventional.

The scope of repairs include: complete renovation of master bathroom, kitchen, and guest bathroom.I spent about $1,700 on materials for the master bathroom (vanity, lighting, tile, grout, 2 medicine cabinets, cement, drywall, etc.).

The light value add opportunities are tough to find and people are overpaying for middle market properties.