There's a 50 year record high supply of Class A multifamily inventory Nationwide that you're competing with. 

There's obviously quite a bit of diligence that comes after such as who the key principles are and their credentials/track record (both balance sheet and experience), the underlying real estate and thesis behind the investment & tax prep and audit procedures but as a general rule of thumb if the investor can't get past the first part which is understanding what they are investing in, passive investing is probably not for that individual. 

As mentioned in my original post, the use of a lower property tax expense projection (even lower value than the year before the record sales price) in the pro forma should never have passed any due diligence check (it was 70% off from pro forma!).

Here’s a breakdown of some of the information you may need to provide for a cost segregation study.For existing buildings:List of equipment on the propertyProperty settlement stateAny appraisals or purchase/lease agreements Property maps or blueprintsSchedules, change orders or documents for future renovation plansSupporting documents for calculating real property book valuePrevious purchase price allocations that separated assets into their appropriate allocation and valuePast site inspections and photographsDocumentation that proves or records deterioration of assetsFor new construction:Contracts or contract paymentsLand and property sizeBlueprints of projectList of equipment involved or purchasedList of projected costs including costs for land developmentApplicable site inspectionsConstruction schedules and payment requestsPhotographs of completed assets or work in progressCost segregation specialists typically have an organized plan for the collection and analysis of the information provided.

Trust documents are not required to be publicly recorded, ensuring that details about the trust remain private.2.

Hi Varun,When evaluating a builder/developer, focus on their experience, track record, financial stability, and references.

If there were in fact permits pulled, then the city still has records of them. 

In MN if you try to get a rental license and your nowhere to be found on record of ownership and there is a different owner on record, there gonna catch n flag that requiring the "actual" property owner has to complete all licensing requirements. 

Proven Track Record – Experience in vacation rentals matters.

Yes, @Dave Van Horn is a great guy with an excellent track record and a stellar reputation.