I suspect without being removed from market it would have occupancy in the low to mid 80s and may have had some small positive cash flow.None of the 4 units have positive cash flow, but this is in large part to extracting equity via refinances in Dec 2021 (so they are all near 80% LTV).  

The best insights extracted from all of this was learning cost per types of renovations.

The agent knows that I was not paying close to retail without a plan to extract most/all of my investment.  

With proper set up of books and accounting procedure, you should be able to extract the information you need.

Both cash.Miami is a unique ecosystem as it’s fed by cash from around the world and cash that for the most part needs to be extracted and laundered in American assets so what’s happening here doesn’t make sense on 99% of the deals as foreign investors have no problem overpaying.

However, full-service cost segregation study may not be cost-effective, i.e. it can cost you more than the tax benefits extracted.

I guess refinancing (and rent the apartment) and using the proceeds is the best way to extract the equity to use towards a new home?

My comment was meant to be viewed in total, not one paragraph extracted to make it seem like I'm completely anti-NNN.

I just want to buy a book and extract a simple, precise and clear route to form a syndication.My first syndication would mostly be with friends and family, so I’m looking to do something that would be very fair to them and myself.

They've found a balance between maximizing their capital extraction and maintaining positive cash flow.The key is to carefully assess each property, taking into account your investment goals, the local market, and the potential for rental income growth after renovations.