Home sales hit their lowest level in almost 30 years, so it's not unusual to see a property sitting on the market for many months.

This skill will come in handy when your clients are freaking out and stressed.

Depending on the actual age of the property, at least some level of deferred maintenance is not uncommon.

I’d recommend waiting till you have a cushion of some sort depending on your comfort level before you take the plunge and buy the second deal.

I think Trump will help but our debt levels are too far gone.  

It is somewhat complex to try to explain on a forum, but at a high level, you (aka GP) and your family member (aka LP) would agree on how much the 2 of you would put in for the amount of equity needed (usually expressed as a %).

You don't know what assumptions to use, talk to your PMs about expenses and rental levels.  

On a more enterprise scale, I employ RevMax software as well as a fractional revenue manager who looks at the prices daily on a market level and a comp set level. 

This conversion will begin at the end of the month.I am just sharing the above to give context to my level of experience with this type of investment.I look forward to hearing from you all.

I am excited to get to know other investors, as I continue to grow in my knowledge and skills in real estate investing.