I don't know the area, but looking at other listings, it appears that it's not a $3,500/month area.

These groups/syndicators put out blogs, appear on podcasts, write books about passive investing, many start "guru courses" and pay for marketing to find LPs.  

It appears to be a mystery to me sometimes.But...when you reject requests with no good reason, it hurts the listing.

They appear to be really soaking their unsophisticated investors, my guess they focus on doctors, and it's a risky place and time to be buying too. good luck

While more listings came on the market last month, the increased competition among sellers didn’t appear to hurt home prices.

@Ryan RuncheyThe bookkeeping for this specific property will likely be difficult.This appears to be a househack as you purchased a personal residence but also have roommates to help with the rent.As a result, a portion of the expenses as they relate to the house are personal in nature and non-deductible.Items such as real estate taxes, mortgage interest, etc are all pro-rated.On-top of that you are doing the BRRRR which indicates that there is rehab involved.Portions of a rehab are currently deductible, capitalized or non-deductibleCurrently deductible - payment for an area of the home that is a tenant area.

yes I do many calc like this.Overall, flipping activity for two years is giving me equivalent net CD of 8-12%It's no longer that sexy, you are right, because in portfolio management I can do the same as well.

I wouldn't pay for exterminator on this if it's the first time for mouse issue.. it's fall time mice appear and for $50.00 you can get the issue in check.If tenant refuses to cooperate then your gonna have to use the pest control guy.

Bringing in pref equity might appear bad on its face, but if done by a GP with a substantiated trackrecord, and the current LP's don't have the means for a capital call, this should be viewed differently than the the GP who is green.   

However, we do see listings with great value PSF and the amenities appear to be robust.