Seemed legit and expecting to hear back from them today on some proposals for a project I am working on. 

Between the pedestrian bridge and The Pearl, this area is expected to have huge growth in the next 10 years!

In contrast, value-add multifamily properties like the Michigan apartment complex offer:Immediate cash flow exceeding bond yields.Significant upside potential through renovations and operational improvements.A position at the bottom of the market cycle, with strong tailwinds expected in the years ahead.For investors willing to explore opportunities beyond fixed-income investments, the current CRE market offers a compelling case.

So I would expect a pretty heavy rehab for off-market.  

.- They often get sold Class C or D properties while using Class A assumptions - then wonder why they are losing money.Here's some copy & paste info that you hopefully find helpful:-----------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Some/many lenders don't like a 2nd mortgage behind their first (like the skin in the game), however there are both bridge or permanent financing options out there allowing you to leverage anywhere from 90% CLTV - 100% CLTV, but don't expect good terms...

., overall portfolio stability or income growth).Be cautious when setting pay expectations.

You’re left doing all the work: finding deals, inspecting properties, putting your own money down while they take no risk at all and still expect 50% of your profits until they’ve made $500,000.

What are yall using for your expected maintenance cost of a Mobile Home?

What else I learned was even if you have friends in the area, or even family, while they say no problem, as we get older we all value our time and it doesn't always feel right asking them to do stuff without compensation or with, but it is always tricky to work that relationship when they don't meet your expectations.