Great replies here, and thank you for sharing examples of what you have or have not done as a private landlord.I do think there is a time and place to offer concessions, just not for people like you and me that are owning/managing portfolios smaller than an apartment complex with 100's of units.

I think the main thing I am learning here is to adjust the profit share between myself and my private money partners.

If you have access to private equity then sure, but if you want to buy properties yourself then at best you are looking at 1-2 per year if you have really good income. 3.

They obtain and manage capital, whether it’s private equity/debt, bank financing or personal capital.

Did you guys ever raise private money?

When someone wants to send you a referral privately, they are probably sending you a friend that pays them a referral fee.

The other way I fund deals with none of my own money is using a private lender that I have years of experience and relationship with and/or using HELOC and other business lines of credit.

Partnering with investors or finding a private lender could also be a great way to get started.

Federal Bureau of Investigation (FBI): - https://www.fbi.gov/investigate/white-collar-crime6.

If comps for a 3 unit property are in the 950k range, then that is what it will come in at.The revenue from the STR will have no bearing on the value of the property itself.People argue about it from time to time, but I spoke with 10 different lenders, banks, credit unions, private lenders, etc etc and they all said the same thing.