Some of the investors are international.

This is a BUSINESS with a real estate component, NOT a real estate INVESTMENT.  

Also, if you're working with a local bank, theyre likely choosing not to originate  Conventional loans for investment properties and to only offer commercial loans that they hold on their balance sheet, which are subject to their own internal credit policies.

Also, the state of formation is likely where internal disputes would be brought among LLC members, so if you and a partner and/or spouse live in CA, you probably want to arbitrate in CA if the two of you had a disagreement.

Depending on the size of your PM company they may or may not have an internal maintenance position to handle these.

The no cash component will be your biggest hurdle. 

This requires the right renovation components and speedy make-ready after a tenant departs.

I will discuss this with our CEO.I actually started an internal Leadership Development Program run through Percipio/Skillsoft. 

This log will be invaluable in case of an audit.3.Grouping PropertiesWhile I’m not an expert in international tax law, my understanding is that you can group all your properties together for material participation purposes.

We found a 188 unit deal in Columbia South Carolina and Ryan had actually already underwritten it but he missed the fact that the T 12 actually only had 11 months in it instead of 12 so we caught it and Multi Family Mindset’s internal underwriter really loved the deal.