But keep in mind, that is potential, because the higher the risk, then also you have the higher probability that the delta from expected returns will deviate.  

The property management company should be preparing a reconciliation at year end showing the total payments Landlord received from the tenant vs the property's actual CAM (plus taxes and insurance) and the delta will be either refunded or invoiced to the tenant.

we sell the house for 350k  after putting 10k into it.. we end up with two buildable lots that are worth 125k minimum each.. and we now build two new homes there so we make the delta on the basically free lots and we make the builder profit going vertical.. they use me as a capital partner so the builder / has no cash into the deal.. 

Here's why and how to structure the loan.Lender will go to 75% loan to value creating a 25% (plus closing costs) delta between purchase price and loan.Raise private funds and put them into a bank account for the property to cover the delta.Get a letter from the bank that says xyz, LLC has x amount of money in the account as of this date.

The delta between value add and ARV has reduced significantly since about 2017. 

In a value add apartment deal I look at the delta of current rent and market rent fixed up.

That's some high $ taxes if $600 is the delta between the old and new, prorated for less than a half year.

It is a fascinating business for sure, but just to reiterate Ken's comments, there is a huge delta between experienced operators and the rest of the crowd.  

Based on the delta in the rates I would do 30 year especially if the property has a lot of equity.

Not sure if this exactly the right forum for this, but here’s where I’m at.I’m looking to get started as the “knowledge/hustle” sides of the delta, with my friend having about $60K to throw around.