My past clients were in a tough spot and needed to sell asap.

I have never seen a quadplex in Los Feliz / Silverlake sell for less than $2.00M.Now I did get a good deal on the house because it needed a lot of work, all in all will probably end up spending $500K between the ADU and the renovations (hopefully).

@Anthony Sigala that "Rule" was created for mostly Class B properties BEFORE the Great RE Crash of 2008-2010.Values after the Crash dropped so much, that it could also be used for Class A rentals.Values are now more than their pre-crash highs, so the rule now only applies to Class B & C rentals.How are you identifying Class B & C submarkets in your area, so you can properly apply the rule to the right rentals?

Good luck.2nd comment- Why are you selling?

Philadelphia County uses ********** to sell their foreclosures.

You could sell the AITD to a note buyer who will pay off the underlying at closing - BUT the buyer will need to purchase the wrap for at least the amount of the underlying.

Try being an agent, your phone number is EVERYWHERE and you get targeted by a whole industry that wants to sell you the latest gimmick.Here is what helped me.I answer calls and when it's a telemarketer I will interrupt them and say very friendly (because I don't hate the poor person who gets paid to do this and coached to be ruthless): Hey, so glad you called, can you do me a big favor? 

Hey Patrick - we are targeting more sophisticated investors who will appreciate our approach to help them drive NOI margin and make informed buy/sell decisions.  

He will be selling the project to buyers once completed and not interested in operating.How should I evaluate this deal from an investment point?

It sounds like Aloha Capital is selling “shares” which are not secured by real estate and would be considered “unsecured loans.”