. - if you need two stairwells and an elevator, that will of course drive costs way up and it also eats into your floor plate area and can crush layouts on a smaller building, possibly turning your small CMX2.5 lot you'd planned to build 5 stories on into what may as well be a CMX2 lot and allow only 3 stories, since you can't actually fit 2 stairwells, an elevator, a hallway all the way through from front to rear, a small lobby, a mail room, etc.

You will need a minimum of a 3/4 ton truck to pull them , I would get a dump trailer dual axel  12,000 lb capable of moving the equipment , also used for hauling . you will need DOT numbers on the truck since you are over 10,000 lbs combined gross vehicle weight , and a DOT physical for the driver .

But from hearing others I think I might be worried about this one for no reason.Regarding physical costs, yes, I was thinking of using a software service.

Make sure to check with a cross-border tax advisor on how this could impact your overall tax strategy.Umm I'm pretty sure the US presence test only applies to non US citizens who are actually physically present in the US for over 183 days, not for owning property. 

@Kate LaveryHi Kate,I don't have all your answers... but I can tell you that if you physically received the $500,000 (cash, check or what have you payable to you) on the sale of your property - it won't fly as a 1031 exchange.  

But they are there and have huge views.People want to get rich quick, not sacrifice by living way below their means, working hard, and putting in the many hours of physical sweat to manage and maintain property, or the many hours of due diligence and hard awkward work of truly vetting operators as a “passive” LP.I stay consistent with my personal approach and what I talk about year in and year out.

And last thing, my LLC has EIN but I don't have ITIN - I'll be physically in Baltimore in few days.

., CoStar, Yardi) - these cost 10-20k a year and again this is not in scope or access of LPs.Verify past performance metrics (walk past assets and secret shop their staff at assets) rather than relying solely on marketing materials.Visit comparable properties physically to validate rent assumptions.

The challenge is I'm out of state, so I can't physically deal with incidentals. 

In the end, in this REI business you have to have a gut instinct that prevents you from doing these kinds of things, if you don't, you are going to have a lot of loss in REI.ARV might as well be a unicorn in this situation as clearly was not reality.