I also factor in soft budgeted expenses like cap ex, maintenance, and vacancy.For example, if I had a $3k rental and the hard expenses were $2,200 you might view this as $800 cash-flow positive, but I am going to budget maybe 15% for those soft expenses and my cash-flow would be $350 per month.

Burke (the ex syndicator) is saying "you as GP do not force to make a deal if the deal does not pencil out at the very beginning.

Plumbing is a great example - as an ex-plumber I'd take PEX over galvanized any day, and even over copper (at least the newer stuff) especially if you live where the water is somewhat acidic.

It's like using your ex's lawyer to draft the divorce papers then just signing them blindly without getting your own lawyer to review and negotiate.

Out of state is tough though right now, run the numbers yourself with $1200 minimum as cap/ex per unit 3/4 units or $2500 per a house annually and don't believe anything the agent sends you for analysis.

If you don't factor that cap ex budget in your cash-flow evaluation, then for the first 5 years it looks like you are doing GREAT and in year 5 you are doing TERRIBLE, but in reality its was business as usual all along. 

I have a mini ex , skid steer  , and kubota tractor  plus a dump trailer  But , I am also a contractor .   

The roof was redone in the last five years The ex (20% ownership) is willing to go with whatever is negotiated. 

Then you can run your numbers, check insurance, cap ex, special assessments, and get inspections.

She is having the mail forwarded from her ex apartment, but I cannot track that or know when she has received it.