Hi David Oh-You asked about a profit sharing bonus for property managers to give them an ownership mindset and incentivize them to align with your goals for quality property management.I love this idea.While I do not have a formal profit sharing plan, I always like to recognize the property management company with gift cards to the operators and the people within the property management company I have regular contact with that help keep the property running well and keeping costs down.Related to this, a handwritten thank you card to the same people periodically goes a long way.I also like to do the same for the tenants that have been paying rent on time.To your success!

I'd expect and plan for this each year.

Got a question for the Jersey City hosts - I bought a single-family home recently and plan to rent out some rooms.

That being said my residential rental will have a positive cash flow of $500 and I plan to rent out this other side of the duplex immediately and will have a balance of 600 to cover for the mortgage.

With careful planning and market analysis, Dallas can be an excellent place to grow your portfolio.Good luck!

If the “all water off for 10 minutes” plan is unworkable. 

When I look at the property and the information what I am noticing is the "game plan" is as follows:1.

And also that rates are just going to continue to be an issue, so it's likely something to plan for in rent rates and/or overall investment costs. 

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

The game plan would be to keep this structure for 1-2 years with future full sale.