I moved here from Florida after seeing the expansive growth in the Columbus market.

Given current cap rate expansion, and the interest rate environment, it would require a significant capital infusion to refinance now.  

They can separate themselves from traditional real estate investors by building a robust EIN Corporate Credit ("Ever-Increasing") investment infrastructure that allows for faster portfolio expansion and more sophisticated financial maneuvering.

Columbus is the strongest growth market out of the Ohio cities you mentioned, driven by significant business expansion.

A more accurate way to describe it is "I received no income" - because you can have deals but still have no profit if your expenses are greater than your income.If you were actively looking for deals (and can document it) - as opposed to merely planning to start later - then you file Schedule C and claim business expanses such as marketing, driving, technology and so on. 

The project will be a mix of 20-60% commercial space, and 40-80% residential units, including a 15,000 square foot expansion of the Old Town North Arts District.

With the real numbers I have now, I know I can make around 250k+ in revenue with 3 Arbitrage properties, if I keep the same trend I can make another 250k+ with 3 more and that's on the lower end, so I plan to keep expanding, the thing is I am having a hard time envisioning expansion in my local area, and kind of hitting a wall when researching other areas.

@Dennis McNeely - my concern with getting a soils study is if it shows there's something really wrong with the soil, such as expansive soil, I would have to disclose that fact when I go to sell the property. 

Some folks want a seat at the table and real control, while others prefer to be passive.. letting the sponsor do the heavy lifting.From what I read in The Economist, some markets (like Phoenix) are experiencing fresh pockets of growth in multifamily, so it’s definitely worth exploring if you’re eyeing future expansion.

Early on, rents would remain market-aligned to ensure the portfolio generates the income needed to cover expenses, pay investors, and reinvest in expansion.