-Management is low - you'll need at least 10% plus leasing costs - typically a month's rent for each lease-up, and sometimes a renewal fee as well-Insurance seems low-Are taxes accurate? 

Well Giacomo, Sometimes you are the football and sometimes you are the foot.

Follow up outside the activities to ask for business and see how you can serve them as well in their business.Best wishes and good luck.

It isn't a big job but I don't want things to go south so I stay in it.Of course I practically live on this forum so I pass along any pertinent info I find as well as answer questions.

It was a personal referral, received a credit at closing for renovations as well How did you finance this deal?

He's lived in Japan a few years as well (Fukuoka, I believe).

one is 35 lots acre plus lots with a nice pond for aesthetics well bigger than a pond.. 

I think real estate is very forgiving (1) over the LONG term and (2) if you're well capitalized / in a strong financial position. 

Now I’m looking into the Detroit and Ohio areas (Toledo, Cincinnati, Cleveland, Columbus) since they seem to have growing populations and affordable properties under $200k as well.  

However, as curiosity prodded, I looked into the degree that it is prohibitively expensive to consider just filing as a security anyway, irrespective of the pros and cons.Basically, I searched for "what are the costs for registering a security with the SEC" as well as "what are the costs for registering a syndication as a security with the SEC"Most the results produced explained something to the extent that the fee was about 150 bucks per million offered, without any other information on what would validate the explanation that filing a syndication as a security is prohibitively expensive.