learn about 1031 tax deferred exchangescomplete you financial package - 3 years tax returns P&L - real estate portfolio, credit scoreexpect to be rejected by lenders and other W-2 employees - qualify lenders, bankers, mortgage brokers - ask what products they have - see if you qualify for themlook at 20 buildings before offering on any - know the SF dollar cost - keep a journalmail lots of letters (be professional NO yellow childish communications) to owners of apartment buildingsUnderstand what a CAP rate is and how to get to it - fill out your  commercial APODVerify -verify - verify all financial data given you by sellers - sellers are liars (so are buyers) trust NO One!

Do you have a deposit from him, and if so, are you intending to return it back or keep it.

I found this very interesting article about Airbnb in Tucson that I thought it would be of interest to investors who are having intention to start their Airbnb business:Original Article Courtesy of Carol Ann Alaimo of tucson.comShort-term vacation rentals a multimillion-dollar industry in TucsonBusiness is booming in the land of sunshine and saguaros for those who rent to tourists through a popular online booking platform.Tucson property owners collectively took in more than $8 million from Airbnb rentals last year and demand continues to soar in the run-up to the city’s annual gem show.About 53,000 visitors stayed at local Airbnb properties in 2017, a 73 percent increase from the year prior when about 30,500 did so, said Laura Rillos, a spokeswoman for the San Francisco-based company.Total rental income for participating Tucson property owners jumped from $5.1 million in 2016 to $8.4 million last year, Rillos said.The short-term rental trend has been good for the local economy because it serves those who otherwise might not come, said Dan Gibson, a spokesman for Visit Tucson, the city’s tourism bureau.That’s especially true during peak periods when local hotels tend to sell out, such as during the gem show or homecoming weekend at the University of Arizona, he said.

Cap rate is important, but so are comps for like kind properties.

So, are you saying to refinance to conventional loans now?

We do not have kids, so are not tied to this school district or anything like that.  

So are you going to give me price or terms on this contract today.

So are you near the coast?

If so, are those properties any harder to rent out compared to properties that do offer off-street parking?

So are you saying there is a way, even though it is 4 plex and residential, for the bank to use income and appraise it like a commercial property rather than comps?