I’m assuming your friend is catering more to the type of business person who will be working on their computer in their room the whole time, rather than someone who is, say, a traveling nurse or blue collar worker.

I create Blue Estate LLC ( manager managed by me ) and Blue Estate Equity Fund I LLC which holds title to the 10 unit apartment building ( manager managed by Blue Estate LLC )Syndication fees are 1% asset management fee of total capital raised paid each your to Blue Estate LLC, 1% of purchase price paid to Blue Estate LLC and 1% of sale price paid to Blue Estate LLC. 70/30 profit split with 30% to me as an individual and 70% to investors. 6% preferred return.The purchase price is $1m I put that $250k raised from investors.

No, no, the blue can!

A huge problem with a lot of blue states and cities is in an effort to densify housing they don't require developers to provide adequate parking, thus the streets become full of people parking on the street and that spills over into nearby neighborhoods.

Here in ATL with $1300 blue collar rent, HOA fee needs to be under $200, ideally $150 is a low'ish HOA fee for a decent rental.- Even buying houses in HOAs can be h***, re lawn mowing, house maint, painting your colors, tenant leaves camper parked in drive getting you HOA fines....In short;  what out for HOAs, avoid is a good business model.  ...

What are you doing to ensure that you are financially capable of taking advantage of an opportunity that shows up out of the blue?

Basics of the partnership:- All the properties will be in my name (I have the high credit & W2 income)- I will be investing $25-50k per year of my own funds into the business to buy more property- My father is in an all cash business so the idea is he will be getting his money in via renovations and ongoing maintenance/CapEx - I will be responsible for all the "white collar" tasks and hold ultimate decision making ability as everything is in my name- He will be responsible for "blue collar" tasks; finding properties, coordinating with contractors, etc..Our goal is to build cashflow for a 10 year period before we would every need to start "taking" the cash flow out of the business.

I buy solid, high quality / low maintenance properties, in great, blue collar neighborhoods. 

Personal Observation - Kirkland Brand Blue Jeans I buy from Costco were made in Mexico, then moved to China, and now are made in Madagascar. 13.

They want to drive out oil and gas, they embraced gun control and chased off gun manufacturers, legalized recreational marijuana, they coddle illegal immigrants...it's just a matter of time before it turns hard blue.