I understand all our models account for the various expenses ,capex, vacancies, etc. but they usually run in perpetuity to put away a certain amount every month.

Especially if you want to scale your business model at all.

Stuart Grazier I would love to hear more about your business model.

Once I am able to source a potential deal, I would work with a firm to perform the financial analysis such as creating the pro forma, underwriting financial models, partnership structuring, etc. in order to increase credibility on the financial side.Next is when I would be working with a legal team to draft the PPM (506c), Subscription Agreement, Questionnaire, and so forth.

We'll setup a call soon and I can go over some of my models. 

- remove existing tile - remove drywall in surround and window area to the ceiling - replace drywall with hardibacker redgard hardibacker large porcelain tiles (16x16, 12x24) with smallest grout spacing possible- highest quality caulk that is mildew-resistant - tile floors, 4" base/behind/beside toilet, in addition to tub surround all the way to ceiling - angle tiles away from block window - re-install shower curtain rod  - replace fan/light with higher-performance model with humidity sensor - inspect fan ventiliation to confirm vent going through ceiling - inspect bath, sink, toilet plumbing and waste drainpipes - add quarter turn water shut-off valve - replace bath fixtures to single stem handle - replace bath drain with grid drain

In today's market, I would have a hard time believing that you can buy an asset and conservatively model those returns. 

He has taught several people how to do it and it’s crazy every time I hear him talk about his model.

Be aware that the interest rate on that LOC is variable (typically adjusting each quarter), so have a plan (back up funds) to pay it off quickly if the rates go up too high too fast for your business model.

Have you modeled the purchase and exit?