I have been investing in Michigan since 2014, we have many areas that still exceed the 1% rule and have annual appreciation.

Qualification is annual.

Consider if it will truly benefit your tax position, liability protection, or asset management, or if it will just add unnecessary paperwork.If you’re in a state like California, keep in mind that you’ll have to pay $800 annually to the Franchise Tax Board, file a periodic Statement of Information (SOI), and submit a Beneficial Ownership Information (BOI) report.It’s a good idea to consult a real estate attorney to ensure you’re making the best decision for your specific needs.

Net $4,200 annually. 

Insurance in TX increased substantially in the last years, on average 10% per year, in some cases even experienced 30% annual increase.  

Purchase price, make ready cost and expected annual gross revenue?

Our annual pass is stupid cheap for what we offer.I will say that while we do have a whole lot of sub2 investors that attend these groups, we don't put an emphasis on that strategy.

To date my annualized return has been north of 30%, so you can do quite well.  

IF all projections are met and the property is sold after 5 years it will be about a 10% annual return after all capital gains taxes are paid. 

The pref equity would pay out a 7% (annualized) quarterly distribution and a 7% back end return when the pref equity capital is returned.