We manage a property that was having drain field issues for awhile, got estimates and had the owner approve one of the vendors.

I think communication seems to be the issue here especially with your comment on how the PM is unresponsive.

If you are new to the business the most common issue is you're either locking up deals too high or you aren't finding attractive deals.

However, this is a conservative regional bank, that is on the NASDAQ, so maybe that’s the issue?

It was high rent, low entry point area but within 6 months I dealt with an eviction and electrical issues.

I am eager to start but can't get around the glaring issue of not having initial capital so I was wondering if there are any methods you guys would use to raise capital if you were in my shoes or is it just time to put my head down and put in long hours? 

And will you have ongoing maintenance issues beyond your CapEx based on the building's age.I personally would be suspect of this deal.

You have to watch out for properties that hit 1% or higher, but have cap ex and tenant issues.

I know that their email is accurate, and that is not the issue.

It wasn’t an issue of “underwriting does review a file until it was complete”.