Depending on which code is being enforced at your location, the balusters may have to be placed close enough to one another to prevent a 4" ball from passing between them.Of course, if your building is historically recognized, that may change the discussion completely.

As the wife is from Bilbao.The rental ball game in Spain is pretty poor.

I would probably say 506b operators are more experienced as 506c operators can advertise and that’s the guru / marketing route of operators with no experience - let me just whip of some videos and market this thing and figure it out.506b needs the relationships as they cannot advertiseNow as a GP I prefer 506c over b all day long, but as I mentioned above- I agree that no correlation

Thank you Gino, it sounds like I should look into it further and get the ball rolling.  

An excel spreadsheet is going to be your best friend (well that and a crystal ball).  

And is low balling being used, because you know at certain times it's a waste of time due to high demand for that asset.So I kind of spoke about this in a cloudy manner because I approach it non methodically, and try to maintain flexibility.

In either case from my perspective it is closed (meaning the ball would be in her court).  

It has been my experience, however, that the underwriters tend to low-ball that 75% figure.

Make a low ball offer.   

If the answer to all three is Yes, I buy.And let life unfold.I have NO IDEA what the ultimate return will be….NONE….And neither does any other investor if they are honest…..most crystal balls I find are broken.But if one acquires the property is a solid long term manner based on fundamental investing principles and is never forced to sell…History indicates the long term trajectory of price and rents are up.In my experience, real estate follows cycles……. 6 or 7 years of a bull market, 1 or 2 years down (though the up is always larger than the down), 1 or 2 years of flat which then sets the floor for the next run up.