If this is the first job you're doing, you might consider adding someone to your team who has done this successfully in the past.That way, in your business plan, you can point to that person's success with particular numbers and metrics.Then investors can make that leap of faith, hoping that your team's experience will bring them the same success you saw before.Success breeds success and investors know that.Good luck.View additional small business and real estate finance articles at http://www.examiner.com/x-22012-Seattle-Small-Business-Examiner.

Hello Chris,Welcome to the BP forum.My situation is similar to yours, and I'm currently studing for the real estate exam in North Carolina right now.

Looking to get into multi-femily investing and I'll want to apply this formula I examine some deals.

The lender will be interested in your experience managing properties - or that of your hired management - and will examine your own financial strength to demonstrate you have some acumen and are not a fiscal basket case.  

I'm surprised they would even assist you in forming an entity, I can tell you bank examiners would not smile on that.So, ask that attorney why so much, it's boilerplate stuff, forms, an idiot can fill them out, but it's the operating agreement that needs careful consideration as to what you will be doing in the future.

I'm going to give it another week or so and re-examine the market.

This piece is meant to aid in cleaning up the industry and instruct folks on how they can take examine materials and scenarios for some of the games bad boys play.

Raden Mantuano,A 30 Day Spending Diary:Take a piece of paper, and start writing down what you spend each day, and how you spend it.Example: You went to the Gas Station, bought gas, and a Drink, etc.Write down how much you spent on gas, and how much you spent on every other item at that store.At the end of the 30 days, examine how much you spent on things that you could do without.You could be surprised how much you spend on some things that you can do without.An example:I had a friend in work do this, and after one week, he decided that he was going to bring a lunch to work, 4 of the 5 days.

Thanks Joel for the reply, you're absolutely right, I do need to stay grounded in my examination of this property.

Examine other money making opportunities outside of real estate.