They create the team and a plan, acquire, due diligence, take care of loan products (If needed), oversee construction/renovation, hire property manager (or run in house management,) take care of accounting/taxes/K1s, deal with closing or refinancing.An LP (limited partner) just puts in the funds (after hopefully vetting the GP and team) and keeps fingers crossed while earning mailbox money. 

Hello everyoneJust signed up to pro account.

Seek a consultation with legal counsel if you believe you have lost money and the amount of money lost makes it worth the time to pursue a complaint with the Texas Real Estate Commission and possible reimbursement from the real estate recovery trust account.

How do you deal with people that don’t want to give user name and password for bank accounts, to verify income?

. :)A claim like that is crazy...I personally think the fees that you signed up for is on the high side.You can view a couple a couple of posts on this message board about people signing up with 1800 accountant and then wanting to move on to another accountant.The thing with firms like 1800 accountant is that you will likely be with one accountant one year and then another accountant the next year because they have a high turnover.The issue with this is that you may have to re-explain your situation on an annual basis.Best of luck.

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And we're still waiting on the last deed, which we're assuming we'll have to continue to check in on.We asked for an entity structure diagram to share with our CPA and that also took several reminders.Trying to set up a bank account with their recommended bank was very confusing.

Prospective Tenant understands and agrees that no possession of the property will be granted until all move-in requirements have been completed.Binder funds will be held in a trust account by the Landlord.

Have them add you as an "authorized user" to their credit card account, then lock it away.

Account ClosedI wouldn't use cap rates for the type of deal you're describing, a small multifamily.