@Steve Vaughan  I would take an 8 cap all day long with that quality of renter base compared to other areas.One great slice of heaven that area ..

Texas grows some big Whitetails and hunters will pay a good price for their own little slice of heaven.

Ok, back to the task at hand, finding some potential deals...Based on what the majority of qualified home buyers in my slice of the Atlanta market can easily afford and want, I'm doing a search for 3 to 5 bedroom homes, with at least 2 full baths that were built no earlier than 1975. many of these buyers can easily afford to pay $1,000 to $1,300 a month in monthly mortgage payments, including taxes and insurance (PITI), which translates into homes with an after repaired value (ARV) of about $150k.

Not necessarily all of the dues, so the HOA dues can end up split into two parts, one slice ahead of the mortgages and the rest behind.

@Joe Miller - I agree it’s a great deal, even if I give away 80 or 90%, it’s still better to get a small slice of a big pie than no pie at all.

This is why most people in this position do so as a member of the GP, sponsor, or manager and earn a slice of their pie - so they can qualify for the exemption.

No matter how you slice it up, it is at the very least unethical and quite possibly criminal.

I mean, I don't think these guys are the best thing since sliced bread, but they seem to be legit and competent.

As many ways as you slice it, that is still actively working on your investments. 

Many of those classes have been provided for no cost by non-profits funded by HUD, more people getting a slice of the pie is not a good thing.....but that's where those with a vested interest in some aspect get involved with law makers to pad their own pockets.I too had input to the SAFE Act initially at the federal and state level and the original exemptions seemed adequate.Loans to the public should have no bearing on what the lender's cost of money is, if they can't afford to be in the business they need to do something else.