Loom is a great platform for adding all SOPs to video form - huge timesaver when it comes to onboarding, training, and familiarizing your staff with current systems- Create a tiered compensation structure for agents to incentivize the high-performersHope this helps!

conversions can be more expensive than new construction sometimes. maybe they can do a studio conversion as a start and make it smaller. there are a ton of strategies and structures but start by studying the market for 2 family properties and getting to know the miami zoning codes. you are the expert not them. ask for compensation 

This immediately struck me as odd as I wasn't aware of any form of compensation to the PM for any maintenance related activities, just 8% of gross rent and 1-month of rent to lease the property, per our contract.Naturally I wanted to understand the nature of this arrangement, specifically how much mark-up is being charged, so I referenced a specific sewer repair bill from 2015 that was $2,600 and asked him if he could provide the vendor invoice so I could understand how much the vendor charged and how much revenue the PM recognized.  

Think about who in the family is most responsible, most reliable and how you're going to compensate them for their contribution.

You are lucky if you have 2 and can compensate the 3rd.

So when you pull money out, you’re actually not seeing the same 1:1 drop in your cash value bc the dividends compensate for some of that.Disadvantages:1.

It's just fair for them to be compensated for Tom's research and knowledge.  

The bank also wanted the church to maintain “compensating balances” in their checking account.We had an existing $650,000 mortgage secured by the property, which had been paid down to $615,000.  

From your post the contractor acted more like the developer/project manager/general and Realtor, so compensation cannot be figures as if he were doing construction only.

Capital can always be borrowed/raised as well, you just have to have a good enough of an opportunity to support the debt and compensate you for the risk.