We have grossed $300k in revenue over the first 12 months of operation, at a ~50% profit margin.

Gross rental income divided by 2 (50% op ex ratio) equals net operating income. 

If you have limited prior experience owning / operating multifamily assets, they'll also require you to use a professional property manager with multifamily experience.

Robin Carriger is the organizer and they usually post notifications here on BP.I've posted other lists here several times and can do so again if you need it and can't find in the search function. 

Hey @Tim Bergstrom, not sure if you've made any progress on this - we're operating in nearby Lexington and have vetted a few deals in the Louisville market.  

I tend to operate under conditions I’m familiar with, also taking calculated risks of what I don’t know yet.

Additionally, the rental arbitrage strategy is not investing, its operating a business.... an extremely risky business.

Usually turnkey operators suck the equity out of a deal and sell at or above market so there goes the equity. 

You end up having to sell to someone with higher down payments, better credit, better operating plan, and 100% investors who never want to pay top prices.  

.: That sounds very similar to how I operate.