, and it's going to die on the shelf. 

But, I ultimately still made (a little bit of) money on the deal.And I can promise I learned an infinite amount more on that first deal than ANYONE learns in ANY training.

i think you'll be hard pressed to find a 20% COCR with a <$200k property that you're doing LTRs on. unless your BRRR it. then your COCR is infinite. so a better question might be, where can you BRRR with <$200k?

It likely is the effort of a large BRRRR but with a good brrrr I can achieve infinite return at the refi.  

Do you want to be able to scale to infinite or have the most simple and streamlined solution?

Note on the bottom pic with the full shelf, it obscures the view.

Most of our RE investments have been BRRRR and we typically have achieved the infinite return. 

As far as my generation (who will inherit it eventually) is concerned, no cash has been invested, so the cash-on-cash return would be essentially infinite (right?)

If you can make 10% safely, you are still making a very large spread and an infinite ROI. 

As far as operating agreement is concerned, I would have a lawyer draft it if your assets is "substantial" vs that of off-the-shelf, the 1500 will easily pay off.