Quote from @Jay Hinrichs: well this is what happens when your trying to wholesale deals and you tell the seller your a cash buyer when your clearly not your relying on someone else.. you create your own stress.I think you’re making an assumption there my friend.  

There are some exceptions (usually when offering on portfolios, I don't see inside each one before offering, only during due diligence; and I state my assumptions about their quality beforehand). 

There are so many lost opportunities relying on assumptions that aren't accurate and easily verified.

only you know (or should know) what the numbers are.Obviously the “cash flow” would go towards paying back the HELOC, so we wouldn’t see any of that income for a couple of years. and if you're just paying down the interest on the HELOC and not the principal, then the HELOC will still be due in its entirety after the draw period ends. make sure you are looking at this accurately.We just always hear about people getting started buying their first property, and even on a lot of the webinars we watch they run the numbers, get a couple hundred dollar cash flow deals and call them good. yes - in a lot of cases this is because (1) the assumptions are unrealistic, (2) the buyer bought when interest rates are a lot lower, (3) the buyer is spreading repairs, management and other costs other an entire portfolio and not a single property, (4) the buyer is managing themselves and doing all of the repairs themselves, or (5) some combination. 

@Conrado Balicusto Recommend you first figure out the property Class you want to invest in, then figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing, investors should research the different property Class submarkets.

I assume (a risk, I know) that the original poster is referring to conditions at a parcel of real estate and the improvements thereon, and the ownership of the subject real estate is held by a land trust, probably an Illinois land trust (which is a specific type of trust, not one limited to real estate in Illinois or which itself is located in Illinois), and the poster assumed that his ownership interest was sheltered, or his liability limited.Are those assumptions accurate?

Who cares what the splits are if the UW assumptions are not right.

Their investment assumptions/opex typically are a little rosier than reality in my opinion.

However, in today's market conditions syndicators that are pushing a hold period under 5 years would seem to me that they are being too aggressive on assumptions. 

You'd need to start working through a preliminary site-plan to validate your assumptions about the building area, parking ratio, drive-thrus etc.