It certainly doesn't work with each listing, but that is what we do with the majority and it is consistent income during a slow season. 

With the lower LTVs offered by senior lenders these days, it may be tempting to look at preferred equity and it may make sense since technically it is cheaper than LP equity, but also keep in mind they have a higher liquidation preference (obviously) but will often want all the cashflow (or a majority of it) to come to them before the LP investors and will also want large reserves, so make sure you model out the cashflows and understand the end-to-end deal with the preferred equity investors.We have some institutional investors with whom we did a combination of a pref and JV deal and it worked quite well for everyone including them and the LP investors.

I’ve seen firsthand how being plugged into a strong local network can help you find off-market deals or avoid costly repairs.PS: Did you know Cleveland’s real estate market has some of the most affordable properties compared to other major metros in the US?

HNW and family office are major sources of capital for syndicates.  

@Chris Seveney I was thinking of higher contractors for bigger electrical jobs or and major plumbing that may need done.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I also hope we have a change in the White House and this requirement disappears immediately.It's interesting that this rule was created the rule to prevent companies from hiding criminal activity even though the vast majority of American companies will never engage in criminal activity.

For your major capex expenses, I assume AC, WH, roof, you would need to get in touch with a local contractor (or two). 

Something about 80+ houses having major issues due to possible negligence.

Taking it one step further, the vast majority of my tenants don't work, so the commute time discussion is completely moot as far as my plan is concerned.