This will give you time to figure out options in Portland.  2.  

A syndication was way overkill because there were only 5 capital partners so they customized an operating agreement with their attorney that outlined roles and responsibilities, distributions, membership interests, etc.And you don't have to have all this stuff figured out right now; it's very customary for us to assign the contract to whatever customized entity we end up forming.Just one caveat. 

.- It's not profitable for them to search for under-market priced houses, figure out repairs needed or what other problem is pushing the price down and do even more for a newbie investor that has analysis-paralysis and may never buy anything.Some questions you'll want to share the answers to with any agent you choose:1) Are you paying cash or getting a mortgage?

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

As a six figure earner, I am seeking advice and insights from experienced real estate investors on strategies and best practices that were valuable when starting out!

Quote from @Robert Medina:  I’m trying to figure out how I can pay myself and buy another property. ...

I am still trying to figure out my buy box, but long term rentals feels like the right strategy for us.   

I’m trying to figure the best way to structure the deal (equity, yearly dividends on cash flow, etc).

If it is a good business with a hard to finance issue, he'll work with the loan team to figure out how to lend to them.

Based on that number of units I would expect much higher figures - did you buy these buildings all/mostly cash?