(Obviously you have not met me so this is a bit of Catch 22 and extremely strange for me to be talking about myself at such lengths, but without having met you, this is the only way for me to capture your attention).What I'm looking for:-An experienced successful Bay Area real estate investor to shadow-To trade hard work for your expertise and experienceWhat I can't offer:-Experience purchasing properties-Large amounts of capital What I can offer:- Sweat equity - (driving for dollars, phone calls, deal research/analysis, etc)- The ability to solve complex problems and get sh*t done - my job depends on it- Attention to detail - I'm meticulous- Experience managing construction budgets upwards of $100m- Field experience managing general/sub-contractors - Creating and executing master and micro-schedules - Energy, enthusiasm, and the hunger to become great- Anything else you need may need - let's be creative and discussIf you made it to this part, congratulations and thank you for listening to me.

He acknowledges all types of needs from real estate investors and do quick work for low end homes, and meticulous work for high end homes.~ Yoshi 

He can do quick works for low end houses, and meticulous work for high ends.~ Yoshi 

Folks often describe what I have done as requiring courage and a "gamble" and while that may be true to some extent, we were careful to analyze our moves meticulously and to mitigate risk to the greatest extent possible.  

I'm prior military so I'm a very meticulous person, I just want to succeed in this business by any means possible.

It's not a slum but they are also not as meticulous as I once was.

Do your due diligence  meticulously on this Nieche.

One warning, though ... even though this strategy is 100% legitimate, take extra care to keep meticulous records, since checking the magic "real estate professional" box on your tax returns will dramatically increase your risk of getting audited, but this risk is worth it and if you keep good records and take only legitimate deductions, it should be no problemo.

Now that they have filed suit against you it would be a very bad idea to do that now.I hope you have kept meticulous records on the repairs.

The property I'm referring to has been meticulously maintained, no mortgage, owner was wealthy and recently passed away in his 80's and now the kids are in charge of selling and want to maximize the sales price on the MLS so it's not a one on one negotiation.It's a 16 unit with average rents at $400/month and market rate is $800-$895.Let's assume all cash purchase so mortgage payment isn't a factor and use 50% rule for simplicity:$400×16×12 = $76,800 gross rents50% rule NOI = $38,400At $1,000,000 asking price the cap rate would be 3.8%If you can easily increase rents to market at $850/unit:$850×16×12 = $163,200 gross rents50% rule NOI = $81,600At $1,000,000 asking price the cap rate would be 8.2%If comps are selling at a 7% cap rate the sales price of this property could sell anywhere between $548,571 using actual NOI and $1,165,714 using market rate NOI.Clearly you shouldn't pay $1,165,714 based on unrealized potential, but it's also clear that the sellers would not entertain $548,571.