Chances are they are a better operator than the turn key providers and are developing better assets but this is something to consider down the line.

Last year we looked at 515 operators and deals and only invested in 11.

I'm confused about what exactly gets included in the operating expenses that are used in the DCR calculation - perhaps there's some variability?

it is going to be extremely difficult to buy a property in a market you don't know and don't live in, and operate successfullyfor example - don't do thishttps://www.biggerpockets.com/forums/48/topics/1137397-balti...

We own and operate in  Columbus OH market and DFW, do you recommended them?

This structure explains why institutional players dominate - they likely have the capital, connections, and infrastructure to operate effectively in such an environment.

Many multifamily projects face challenges, including rising interest rates, operational inefficiencies, and decreased valuations, which drive the growing need for alternative financing solutions.This environment presents a unique opportunity for mezzanine debt and preferred equity investors.

We don't operate within a salary cap.

What % of the $140k is going to operating expenses?

This is why it's in everyone's  best interest to operate their businesses in a manner that avoids gross negligence conduct.