Finally the pro formas that they provide are absurdly basic and neglect at least 25% expenses, so are essentially useless. 

Then you specialize or hire legal, operations, finance, investor relationships, concept, deal analysis, Which investment level your at determines what experience you need.  

It seems every market goes through a cycle -- unnoticed potential; early titillation as the potential becomes known; flood gates open and gold rush is on; property prices rise, revenues drop, regulations come in; and finally balance is found.

Need to include income tax, estate tax, gift tax, and property taxes in the analysis of options.

PS Rochester and Buffalo were ground zero for much of this stuff also there were groups buying those homes for 10k packaging them up and selling them for 80k to investors from England. the city / state finally cracked down on that and there was some folks that got in trouble on the criminal side of it.. you can google it.. wont mention names but you can find it if you dig deep enoughBut this is nothing new.. buying hood rates for pennies and selling them for dollars to foreigners and unsuspecting out of state folks. 

The exemption allowed results in a “taxable value” of either 75% of the “ATI fair market value” or the final Current Fair Market Value for the tax year of sale, whichever is higher.

They finally get back to me after the close date to say they need more time because they are try to cross collateralize their other properties to make this deal happen and the bank they were using doesn't do this kind of loan. 

Don't get stuck in the analysis paralysis phase, it's no fun and you don't learn as much :) 

Repeat: Scale Your PortfolioThe final step of the BRRRR strategy is to repeat the process.

The financial analysis side of CRE really excites me.