No discount shall be made because the subject interest is a fractional interest.ii.

And we buy at a fraction of that value.

A kot of better options for less if not a fraction of the money TBH. 

I buy them for a fraction of what real estate would cost, sell quickly - usually 90 days in and out, and the profit margin % is over the top. 

Hi all,When analyzing our deals, we've been leveraging publicly reported property taxes, which often are a fraction of a percent (e.g. 0.70%) of the purchase price - in this example, on a $100K home, the annual tax would be $700 so divide that by 12 months = $58.33 per monthOne of the lenders we are considering working with says that out-of-state investors pay 2% of the purchase price in property tax, which significantly skews our cash flow into the negative.In this example: 2% of $100K = $2,000 annual property tax for OOS investor, divide by 12 months = $166.67 per month, over a hundred bucks more than what I'd been anchoring to...I tried googling whether this was the rule, and even searching the BP Forums, without finding anything that confirms this.Which number should I be using?

This is a fraction of what a lender would want from you.Make sense?

So the strategy seems to be buying 100 liens at low or no interest and maybe a tiny fraction don't get redeemed and you have a huge windfall by acquiring the property. 

They are acquiring existing Private Placements and fractional ownership shares.

Or they use other people's money and only own a fraction of the syndication but claim ownership of all the units.

I am not sure how other will take this, however in my experience a property management company has an specific job for a very little portion of the pie, which means that they need to assure that they are not liable (of course, I wouldn't sign a contract when they are no liable even for their own error, that seems to be a red flag).You have to understand what is the service that a PM jobs, in here we were comparing with Verizon, but I agree that this is different, however you can compare it with an assitant or a fractional operation manager, as that is their main job to do, and that is the work that they are taking from your shoulders.Another thing to review is what happen when the property goes vacant, are they providing another listing contract or are this also included into the PM agreement?