It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Now taht real estate has gone back to the good ole days of not being an appreciation machine and a good investor needs sound fundamentals in managing and overseeing the properties - now you are given the wave of "creative finance" which comes off as its easy to get a home but it will be interesting to see how these people are fairing in a few years of mismanagement of these assets. 

For example, if you are buying in an area that is in are 1980s and above, you might run into a roof that is tile and the paper under the tile needs to be replaced the day you close.

Did you figure in the cost of the other tenant paying less than market rent until you can get them up to market rent or replace them with another tenant and how long that will take?

Hi Hunter,It sounds like you've built a solid foundation in real estate with a variety of experiences—that’s awesome!

Do you know if a roof that was replaced due to an insurance payout can be added to the basis?

Here they all start with "Are you aware of any XYC.." and none of them are asking about previous repairs or issues.I understand that you are concerned, but honestly, if the water damage was resolved, the soaked parts replaced, why would it matter any longer? 

Sounds like he was feeding you a line of garbage. 

Sounds good!

As a limited partner, you would be able to participate in the project without being involved in the day-to-day operations, while benefiting from the potential profits upon completion.If this sounds like an opportunity you would be interested in, I would love to discuss further and provide additional details on how we can collaborate.Looking forward to connecting soon.