Have met him personally a couple times and he is just a great guy all around. 

It is your responsibility to find the right answer, give a clear expectation to people you hire, learn about the house and industry.

As a hard money lender looking to fund $10MM+ in deals in 2025, our hope is to connect with similar sized hard money lenders, ideally in different geographic area, that are looking to create a small network to bounce ideas off of, learn from, and engage with regularly.Welcome to BP, as a lender happy to connect with you and network 

You go out and buy an apartment house and then hire a property manager so you don't have to personally spend time on the property.

Initially the numbers were 40k for rehab cost Lessons learned?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

It helps a lot with networking on here.Other than that, be a sponge and soak up as much content to learn the game.

Fast forward 2 years his landlord mentioned in passing he might sell the property; I was the first person on his mind.

You’ll make less money but you may learn more along the way for future projects or reduce the headache factor (which can be significant).

Why suffer through multiple learning curves when you can focus and perfect your approach?