If you are running a retail business, have employees and contractors, do payroll, track inventory, etc., etc., it seems to be a fine tool.But if you are a real estate investor with a few properties to track, it's really painful.

I feel that if both parties understand the risks; if real estate investing is their business, if both parties are sophisticated and experienced investors, and both decide the risks are worth taking, then subject to can be a workable tactic.  

A lot of accredited investors are not sophisticated enough to do DD and anyone advertising in Fb usually has lackluster performance

Can't blame the guy for having a sophisticated enough business where he has the ability to deny customers that aren't idea.

I’ll just have to keep this one for myself :)Unfortunately, we had a tragedy at the office with your point of contact like we indicated via private email so an update was not provided to you in a timely manner.Our company is still very green and growing and I have always stated that we aren’t the most sophisticated turnkey business in the country.

One needs a CRM, or any other tool, depending on your level of organization / sophistication. 

Here's a PARTIAL list:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Business income tax preparation and paymentsStaff payroll & payroll taxes Time Tasks: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why taking so long, and more & more & more...

Overstating the profitability of this endeavor by grossly understating the competitive nature of the bidding, the sophistication of some of the players as to research capabilities, etc.5.

This type of financing will typically look very different and more like a traditional commercial real estate loan.That means a DSCR calculated based on a full NOI and expense load (so inclusive of vacancy loss estimates, credit loss estimates, repairs and maintenance, utilities, management fees and more – in addition to the property taxes and insurance expense that are the only expenses factored in on traditional residential style DSCR loan financing).Additionally, the DSCR minimums are generally going to be higher (typically up to 1.25x), the loan to value ratios lower (higher down payments) and underwrite more sophisticated (which makes sense considering the size and scope of the property).Many multifamily investors for properties of this size (such as more than 11 units) can syndicate capital and have more sophisticated financial and entity structures – its definitely a different world once you get up here in unit count.In Conclusion – when you are looking to invest in multifamily real estate and finance your investment – make sure you have the unit count in mind before you start shopping – the unit range can have a huge effect on your options.

Commercial real estate is a sophisticated endeavor and hopefully much more can be learned but I vote this post be deleted or at a minimum, the “scam” part be removed from main title.