@Reid Ervin Great questions—there’s a lot to unpack here, but I’ll share what I’ve learned from my own experience, especially from a flip turned BRRRR, that I partnered on last year in Longmont CO.

This is a small 3 br house.Work Order Instructions:- Entry 1 : Security/Screen Door | Replace Exterior Door Screen- Entry 1 : Wall/Ceiling | Spackle and paint- Bathroom 1 : Door Stop | Replace door stop- Bathroom 1 : Light Fixture | Replace bulb- Bathroom 1 : Shower/Tub Caulking | Re-silicone tub- Bathroom 1 : Toilet bowl/lid/seat | Replace toilet seat- Bathroom 1 : Toilet Paper Holder | Replace toilet paper holder- Bathroom 1 : Tub/Shower | Relay loose shower tiles- Bedroom 1: closest to the front door : Closet/Door/Track/Shelving | Install Closet Rod- Bedroom 1: closest to the front door : Light Fixture/Fan | Fan light does not work - replace fan- Bedroom 2: 2nd closest to the front door : Closet/Door/Track/Shelving | Replace closet rod- Bedroom 2: 2nd closest to the front door : Window Covering | Replace blinds- Bedroom 3: furthest from the front door : Switch/Outlet | Install smoke/CO detector- Bedroom 3: furthest from the front door : Window Covering | Replace blind- Dining Room 1 : Window Covering | Replace Blind- Hallway/Stairs 1 : Light Fixture | Replace bulb- Hallway/Stairs 1 : Other | Replace blind- Kitchen 1 : Window Covering | Replace other blind- Laundry Room 1 : Light Fixture/Fan | Replace bulb- Living Room 1 : Switch/Outlet | Replace Outlets- Living Room 1 : Window Covering | Replace Blinds- Basement 1 : Light Fixture/Fan | Replace bulb- Systems 1 : Thermostat | Reattach thermostatLine ItemsDescription AmountLabour hours, replace several blinds, screens, door stopper, replace toilet seat and toilet paper holder, reset showertiles, install closet rods, replace necessary bulbs, smoke detectors and outlets, touch up paint$2,096.38Shop Supplies $3.00Ace hardware invoice I51016 $44.64Ace Hardware I50619 $53.69Ace Hardware I50569 $43.57Total $2,552.16The gross rents on these units are great but so much of the profits get eaten away by the turnover costs it just makes less and less sense every year. 

Since this is a post about our loan shop, I'll highlight that we are a small loan shop (30 employees), family-owned just trying to get more clients by placing their loans well and treating customers well.

There are pot holes at every step form entitlement to permitting to the vertical and getting CO. 

The PMS around here are pretty terrible, I've worked with a lot of the larger ones in Cleveland and I think they just take on more properties than they can effectively handle and don't hire enough additional employees to make it work. 

It is clear from the interview that their main skill set is raising money and they partner with other "Co-GPs" who focus on the operations. 

I just learned that builders risk and liability insurance coverage can cease once a CO is issued for a new build.

Managing syndications is a business, just like any other, and requires the same level of dedication for it to be successful long-term.But it gets better over time. 

As I mentioned above, we're both W2 employee. 

Here are a few tips to help you get started:Financing: Since you’ll be starting your internship soon, lenders may look at your projected income or require a co-signer until you have a longer work history.