You definitely don't want to use a straight JV for this because you'll quickly run into securities concerns if you want to open your operation up to a wide array of investors; which I'm assuming you will.From the context of your post I think setting up a series LLC with each series buying a block of properties would probably be something worth investigating.David's post is spot-on about fees.

I'm currently in the West End (land of strip malls and the boring end of Broad St).

Good luck on the Eli Broad application.

But not as broad a market when you go to sell.

Hi,We are in the process of looking for our first deal in the CT area, and I came across this property on craigs list:asking price: $229,000 7 unit victorian built in 1880, in broad bank, CT (small town near hartford)some seller finance: 60,000 @6% 15 or 20 years (which would be great since we do not have a lot of capital to start with)Gross rents: 59,700Here is where this does not appear to be a good deal:electric: $6,390oil:11,167.31water: 1,825trash: 2,562snow 510sewer 2940taxes 6497insurance 4000and i would also add in property management: $450and repairs: $450the tenants are month to month and rents are somewhat below marketand there is laundry in basement for extra income.So basically the owner pays ALL utilities on this property.Question is though, how difficult would it be to change the electricity and oil to separate meters and how difficult would it be to start passing that on to the tennants?

One of them is:- Criteria (how to find the best deal)I understand the math part, but I'm sure that there are other elements at play such as location, the type of neighboorhood, etc.So my question is thisHow do you narrow down from a broad selection of properties to a single ideal property ?

LOL yes Ben and Joe, we are well down the road to a "sham" democracy where laws are so broad and fuzzy that it creates opportunity for selective and creative enforcement.

Wow Curt,That is a big broad over generalization about how investors invest/manage their turnkeys!!

How is that possible if what you so broadly claim is true?

If the theory is meant to be limited to those four things, then okay, but if it's meant to be a very broad prescription, to encompass stocks as well, the theory doesn't hold water, and thus the advice to buy real estate now is called into question.