Everyone has some cognitive bias, a tendency to ignore what we don't want to hear, that's pretty much the case with new folks getting into real estate wanting to wholesale. 

In our model, we are assuming refinancing the first two properties after Year 1 by cashing out our initial $1M investment in each, and then reinvesting that $1M into another 30-40 unit complex at a ~$3M price.Basically: Year 1: Two properties at $1M eachYear 2: Refinance both properties, get initial $2M out of each property, and reinvest in another 2 like properties (4 properties at end of Year 2)Year 3: Refinance both recent properties, get initial $2M out of each property, and reinvest in another 2 like properties (6 properties at end of Year 3)Year 4: Refinance both recent properties, get initial $2M out of each property, and reinvest in another 2 like properties (8 properties at end of Year 4)Our model is to do this until Year 10.

This one however has been based on 6 months.I think I may be a little bit skeptical of my agent, but that's also a tendency I have towards people in general till I feel like they've proven themselves.

Sell at end of five years.

Real estate agents in general have a tendency to say that a property has positive cash-flow if it covers debt service and a minimal amount of vacancy and often ignores maintenance all together.

Duplexes in our area do have a tendency to be on the older side.  

Hi there,From what I've seen in my market here in Germantown turnkey properties in popular Metropolitan suburbs have a tendency to be overpriced and to potentially have some real pitfalls.

Given the drama you seem to have tangled yourself up with, I would give proper notice that you are not renewing their lease at end of lease term, then let them know once they've figured out their situation, the party wanting to stay can submit the proper application for the next year.   

The owners will be back at end of this week for a week to do some minor, touch-up work inside and to hopefully get sold.

Zero Hedge has a tendency to always predict doom and gloom, but their analysis of recent market behaviors tends to be spot on.2.