I think there are many valuable lessons in here if they can be separated out and gleaned from this. 1 major thing is that this is your your business and ultimately your model will succeed or fail based on the business model you have and the people on your team. 

If they do not have any then there is your answer  Just because a company can find you a good deal does not mean that they can get you the monthly return year after year on that property Always remember you own four walls and a roof ,they owned the business system it’s operating inside of that to give you the actual return that it was promised and that’s easier said than done if they don’t have correct policies procedures in structure Always make sure that your business model aligns with theirs to make sure that they are going to help you reach your ultimate goals well if they cannot have that conversation with you then maybe they were the wrong team to leverage your properties with

The value-add model allows us control in either increasing revenues or streamlining expenses.  

I had talked to them myself they had offices in PHX  and I had a complicated model I was doing at the time it was 2010 capital was frozen.. and they were just too quick to approve me all I had to do was send in the 10k to get to the next level..

@Sam hate to admit it, but i been using same model for 10 years. i purchase 2-4 unit buildings in need of work with low rents and bad management. i raise rents to market value deal with turn over and usually sell to a bay area investor who thinks we are all rookies in the valley. :)

Was it the location, rents too high for business model, bad operator, bad ingredients and menu, or a combination?

They get so focused on buying the deal and never think about the business model of how to run the property as a profitable business along with all the laws and regulations and knowing all the rights afforded to your tenants.

Buy & hold is a very forgiving business model and as long as you buy a quality asset that cash flows you will be fine, no matter what the market does.

Hi, I'm looking at these companies and really not understanding the basic facets of the business model.  

. :) not to mention not all contractors have the same business model.