My 4 personal STR's are all in San Antonio did over $575k in 2024 and on track for $650k in 2025.I think you are generally looking in the right areas, but there are a few things to keep in mind:1) Stay inside of 1604. 

Also, while this is a multifamily investment, I would generally say the Syndication review forum and/or PassivePockets may be a better place to yield results in your inquiry.

The $100-$300/month amount is just a generalization - but the point is, on a monthly basis you don't see a huge income per property - and you also have to absorb repair expenses and such as well.   

You do have to purchase at least as much real estate as your net sale if you want to defer all tax.TICS are generally cash deals. 

@Richard Rafferty, while I generally agree with Chris, I will first ask what types of property are you looking to syndicate?

I checked the Better Business Bureau for complaints, I checked the NJ State Attorney General consumer division to ensure he was licensed, I checked every reference he gave by visiting sites and speaking with the homeowners. 

As someone else mentioned, insurance here is generally less costly than in Florida and other beach markets. 

The biggest hazard is generally the insulation falling off and overheating and setting something on fire, or arcing because of insulation gone and having the same issue.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

In general, an additional insured is added when the additional party carries some of the risk related to the insured property."