Indeed, the FAIR ordinance is anything but fair to non-corporate landlords, seemingly punished for investing in rental houses to generate income as an alternative to stocks and bonds.A handful of opportunists likely could learn to exploit these new rules, preying on otherwise law-abiding landlords to obtain legalized shake-down payments.

You'd have to be a builder to really reap any sort of profits from an area as such. 

So there is no discount or profit to be made. 

Even if your GC is decent was able to get your job done in 100 days, if it doesn't resemble the comps in quality then your 300k exit is now 270k and with all the exit costs and holding costs your 40k expect profit is now under 10k. 

small profit Lessons learned?

However, since I am NOT an expert in everything I assign a value for how confident I am in each estimate and use that to generate a LOW and HIGH estimate value.

Take a look a look at the RPAWi. org, which is our local non-profit landlord association located in Milwaukee.

.: Quote from @Theo Hicks: In ideal conditions:Pref equity receives higher ongoing distributions but no profits at saleCommon equity receives lower distribution and profit at sale (assuming their is cash flow left over after pref equity is paid and assuming their is profit at sale.In non-ideal conditionsPref equity may receive ongoing distributions less than pref, or no ongoing distributions at all, but the pref accrues.

Perhaps you can barter that for experience and, perhaps, a taste of the profits and then, later when you're capitalized, do what you're suggesting but now with experience and skin in the game.

Doorvest claims that they help identify, purchase, and own rental homes for a littles as 35K and help generate cash flow.At the moment, I'm little skeptical but wanted to give it a try and write each steps here (good or bad) and help the community here.