Yes indeed mate.I probably would have fixed the rate also but "underwritten" the deal from a worst case rate scenario like I would do with SFH if financing.I'm not versed in large multifamily deals and would love to learn more.I think I could really do some "damage" in the field because I own and run a property management company and we run a tight ship that's very well optimized from an automation aspect and affiliate fee structure standpoint.So my bottom line for example buying a 50 or 100 unit would be much safer/higher due to in-house PM and "working" the margin.Vertical integration of management (and rehab) would definitely be a value proposition for you (and the small % of other sponsors who have it). 

I would rather have 4 Class A properties than 20 Class C properties (20 roofs to replace, HVAC, more tenant issues, property management fees, AC unit stolen, etc).Wealth from real estate is built on appreciation and equity - look at all the multi-millionaires in coastal California whose property values have gone up dramatically over the years and our property taxes increase 2% a year from the base value (Proposition 13) compared to other states whose taxes go up a lot.

We admittedly are not a good fit for everyone, but for those that want to learn and scale quickly, we believe we have a strong value proposition to help them achieve those goals.I wish you well on your real estate journey! 

The other value proposition we add is that we have been personally investing in these markets for nearly 10 years through MartelTurnkey on over 650 projects, so in addition to just contacts, we help provide overall deal structure and analysis from a non-biased perspective (agents have their own agenda, PMs have their own, etc).

I personally think that there should be a mandatory minimum period before the same proposition is put up for election after being defeated. 

They are trying to change these rules now, proposition is up for a vote in May.Note that some signs in austin violate some of these laws.

I don't discount the possibility that the lender gets to finance 2 properties instead of just one but the proposition does make sense on paper and in theory. 

Wrong, well two of them are in a part of dc that is rapidly declining & no one in the family wants to take care of (and he certainly cannot) and has deferred maintenance on both, the other two are beachfront and a block from the beach, one already got it by a hurricane (no damage, but did trigger a special assessment & insurance skyrocketed) the other one just being near saltwater for 70 years takes a toll on a place, the other thing that happen’s with real estate over time is appreciation eventually rapidly outpaces rent growth so these aren’t as big cash flows as you’d think, a decision is was made to keep these properties both for appreciation and of course stepped up basis (most of these properties he bought for nothing and then depreciated the hell out of) while he has great assets and it will all be fine in the ends and we are all very lucky he has the assets to cover my grandmothers care, frankly trying to figure all this when he’s 88 and everyone is stressed just isn’t ideal, he probably should have just 1031’d up certain properties that had environmental and/or let’s just say locational risk into new or very new construction in the easy to rent burbs like a decade ago, while the tax implications always make selling at tough proposition, I think at a certain point in everyone’s life especially if there are lucky enough to have kept properties for decades should transition them into these easiest assets they can find in their market (you can even put in a reit or more specifically a Delaware statutory trust) to make thing’s easier for them and their family once they are no longer capable of managing those properties themselves. 

So you need to determine who your customer is, what is your value proposition and how you get them over the finish line whether it be online in person or a mix of both

There are solutions, but being all over the internet like a certain guru, bragging that you are buying houses off the MLS at full price using unsophisticated lenders in 2nd position to over leverage the purchase, so you have no money out of pocket as you buy properties is not a lasting proposition and won't end well.Unsophisticated Subject To "buyers" (wannabes) are apparently taught that having the "Correct Contract" makes it all legal and keeps them out of trouble and cures hemorrhoids.