The lender just records the warranty deed and is the owner of the property.  

The calculation uses the following formula: Total Rent Potential x 75% ≥ PITI (plus HOA if any). 

And this is a biggee wading through the fake lenders or the Joker brokers that tell you what you want to hear  but cant get the deals funded and you lose the deal and a lot of money.3. with actual PML  private people  usually have very limited funds so cant scale with them.. they can have a life event and just stop doing loans all together..

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

How do you approach educating people on the realities of the business? 

My assumption is that this means that in order to raise 50 million as a security, the fee for said shares would be just 7500 dollars.

Thanks for the feedback @Steve Hiltabiddle.

I mainly want to ask if these assumptions are reasonable and if there's anything I haven't considered:(1) multifamily units in NJ close to New York City, ~$1,000,000, 20% down payment, (2) Using the following assumptions: 4% appreciation rate, 6.5% interest rate and 5.0% refinance after 5 years, $10,000 yearly maintenance fee(3) ~$6,000 monthly rental and assume 3% increase yearly with 5% vacancy rate(4) Based on the above, the calculated IRR if selling at the 10th year is ~19% (considering tax benefits) and ~17% (without tax benefits).

Stephen, When I open the link to the Cape Coral site, its just to the Citizens shared services page. 

Anyone that has looked at Zillow's Zestimate can tell you that an algorithm can give you a general idea, but it is just aggregating past data and spitting out a number.