This is after covering all expenses and setting aside a certain amount for reserves to cover future expenses like capex or vacancy. 

You've given me some solid pointers/items to take into consideration for future deal analysis, so thank you for that.

From there, I would like to consider a 1031 exchange in the future to acquire more units.My current property management company suggested that they could handle a mid sized apartment building but I would absolutely not consider them for it as I believe they have overextended themselves and communication is lacking.

Analysis of current tenants and future potential tenant market.  4. 

Disclosure: Previous, current and future purchaser of Matt Scott's services.I have personally used Matt Scott and Incite Venture Capital to create my fixed income fund.

Since we’re in the early stages, do you have any tips on building meaningful relationships with lenders or private investors for future projects?

Quote from @Spencer Elliott: Long story short, land is on loan and I’m purchasing a manufactured lot as a temporary home/future ADU to my final build.

If the partner wants to get a bigger cut on future deals, they can save their money and buy into a larger percentage on the next deal.

Will we ever use a PMC in the future?

You’re in a win win situation no matter what however I guess you would also want to take in account any major cap x repairs that might be coming up soon in the future you might want to avoid paying.