This is an amazing space to meet many very smart individuals.

Check with your state department of real estate.

On the other hand if the fund has not set aside adequate liquid reserves to meet obligations, then I think it is probably only a matter of time before they are going to have a problem meeting them.

Hey I am fairly new to the real estate investing game and want to see if anyone has a REI meet up or zoom meeting going for the Birmingham, Al area?  

Next step Find a local Multifamily Investor group and go meet members and partner up with experienced people. 

So with another 100K in construction/fix up cost bringing the total to 500K it meets the 1% rule, obviously I would do more underwriting but I need to be solid on those comps. 

Contact the local zoning department (construction, building, whatever designation the municipality uses).

If investors, you need experience and a strong understanding of how deals should be structured so that you can offer your investors adequate returns to meet their objectives while also having enough meat on the bone to be worth your efforts.

We can discuss this in our next meeting as well. 

Hey @Greg Cubitt, welcome and nice to meet you!