My inner circle of investors that I know only do SF flips.I'm looking to get a couple of General partners in this deal that can help me bring investors.here are some detail of the deal:56 units, 3 yrs exit strategy, Multiple 1.8x, IRR 22.5%thank you in advance.

Boom in Central TX in next 5 yrs due to Austin being unaffordable and Samsung New announcement of $16bln chip factory in Taylor, TX.

This is in central Texas, close to Austin TX so it's likely to increase with the big companies moving in.Rental rate: 3.5K/month (Tenants would be middle-to-high income families with school-aged kids)The house is almost 20 yrs old so could use some paint touchups, flooring buffing, toilets, etc. but overall in decent condition.I'm thinking I'll fix these things as a rental so I can deduct it from the rental income and then plan to sell in 3 years to keep the cap gains exclusion as a primary residence.Rental rate doesn't pass the 1% rule of thumb. 

Also, non-guaranteeing members with at least 20% ownership will have their background pulled (0 x 30 x 12, No Foreclosures / Bankruptcies in the last 2 yrs).

However, you, as a landlord aren't required to fix it since most tenants move every 3 yrs.

In this case, it was not primary home last 2 yrs when I sell 2029.

The house is 60 yrs old and original but in fantastic shape. 

We'd like to keep the home as an investment for at least another 5 yrs. 

She recommended looking into purchasing a condo instead, living in it and after 1-2 yrs using capital gains to become more competitive in the market and then moving forward with the multifamily properties.

I'm in PA and I have a tenant that has been with me for 5 yrs now.