I originally assumed that this "Preferred Return" would be paid to the Investors regardless of the profitability of the Project and realized that wasn't the case like it is with other projects I've analyzed and/or invested in elsewhere where the "Investor Preferred" (may not be called that) is debt paid regardless of Project profitability, coupled with an equity sharing component to distribute net profits if the Project achieves certain bogeys. b.

A good commercial broker is also key component as well.

I know that written goals is an integral component of success it's just that I don't know exactly how to go about doing.I recently finished reading Think & Grow Rich and I want to create a goal sheet that I can review regularly.

Here is my current situation:Main residence appraised $122,000 (loan balance upon re-fi $75,000)Rehab property appraised $132,000 (purchased at $89,900)Combined Value $254,000Current Loan is $197,000 (including $34,350 construction component)We discussed keeping the mortgage balance at 80% of appraised value of my main residence upon the sale of the rehab project ($122k x.8= $97.6k) The process would encompass selling the rehab property and paying the loan balance to the 80% figure while retaining the difference acquired through the sale of the rehab...

Equity Accrual is a component of Total Return.

I am not sure if I can dissolve the previous component of my LLC and be allowed to keep the name etc.  

plus of course you have that 14k rattling around in your pocket, rinse and repeat.These are fairly conservative figures but they depend on a number of important variables:The income and expenses are close.There's not a ton of deferred maintenance or building components at the end of their life.That the seller will accept 8% interest only (it's really pretty good compared to the alternatives today, maybe he'd even take less).That you can refi at 75LTV and something close to 6% in five or so years (with three or four years of solid operating history you should be able to refi... or sell at a nice profit).And of course that you can operate the property to those numbers.Good hunting-

(Horizontal cracks are a big deal, vertical cracks not as much), condition of main beams (if it has wooden structural components, is there wood-destroying insect damage?)

While I could have replaced a leaking component in my 12 year old HVAC system I decided to replace the system with a more efficient, quieter and reliable (I hope) new installation. 

The vacant side that I would be moving into was recently updated and has many new components.