@Toby Khan my appraisals are ones that I just closed recently. 

On recent projects that I have seen, LTV’s north of 70% are struggling to pencil out on.

I recently came across a real estate investor by the name of Jerry Norton and Peter Conti.

I'm curious why your bank rate recently increased?

Point being that property you acquire 1-2 years ago is likely to be subject to deferred maintenance and capex, so their "long term" performance in rankings 1), 3) might skew poorly in year 1-2 but may pickup  after you've found and fixed all the hidden issues.I know if i did this exercise across my portfolio, the recently acquired ones wouldn't be fairly "stacked" because of all the year 1-2 cost build up from what the seller deferred, but have good chances at being future performers in years 3-5.Maybe that's why you have 2) and 5) but curious your general thoughts here are for evaluating this. 

Anyone recently added to Fund IV?  

Just recently, I completed a cash-out refi on a duplex I picked up in 2019, and pulled out $103k.

April, have you seen the recent pro-formas they are putting out on these properties that suddenly become available..basically, the properties that investors decided to drop once they asked for massive price increases?

Plus, FHA loans often allow you to buy multifamily properties with as little as 3.5% down if you live in one unit.Looking at Chicago, where you're based, I’ve noticed some interesting trends recently.

First, obviously leverage is the MVP, but this isn't my first interneting, I know controversial titles get more attention.Second, I’m a recent convert to Pocketarianism.