I aim to have it show the impact of K1 losses if the syndication offers it, and that tool is helpful because some of the comparisons will show a real estate syndication vs mortgage notes or debt funds that may not offer the same tax advantages/losses.I've included some of the criteria I was putting on the Excel calculation below.

Detroit's neighborhoods vary a lot, and the appraiser included some comparisons that didn't quite fit.

On the flip side, I could charge everyone "retail" rents and get retail, one-off clients (tenants) who will cost me a higher % in comparison to the % increase in income, leaving me with a lower net.Businesses are about building and maintaining relationships that are beneficial to both parties.

For those that have never used IRC before or do not have an IRC client, you can find a good comparison matrix of available clients here or use a web client like KiwiIRC to connect (ex: https://kiwiirc.com/nextclient/#irc://irc.snoonet.org/##realestateinvesting).  

Since both scenarios pay off the principal (year one vs. year 22), how is the principal handled when calculating the total return comparison?

You AND the AI forgot this wasn’t a real comparison.

I would recommend that in the short term you include that comparison against any real estate investment you  consider.  

@David Nino hard to make those comparisons on limited info but that sounds about right.

By way of comparison, the same year I bought the lien on the 36 acres parcel of commercial land being discussed here at 16%, I bought a lien on a double wide mobile home affixed to a permanent foundation in some remote Arizona town, and I got that one at 0%.The bulk of the property is not in a flood zone.

I would check them out as a comparison.