The right property manager will take up majority of the workload for managing tenants / maintenance and everything else. 

The property has an amazing creek canyon (attached photo) is 5 miles from all the major attractions to Yosemite, and 7 miles from a lake.

No disclosure on the sewage problems or any of the interior rehab required as all the BPO listed was a mere $3500 repair estimate for exterior cosmetic issues.An out of state buyer would have no idea that his $90k "bargain" needing minor repairs was actually a $10k property requiring major repairs that exceed the value of the property. 

if it is serious I have a couple of questions for you 1) what is the last syndication that you have seen that did not project a majority of the return from value increase?  

It was built in the 2010s and located in an established neighborhood with convenient access to schools, amenities, and major transportation routes.

It was built in the 2010s and located in an established neighborhood with convenient access to schools, amenities, and major transportation routes.

These properties are in major tourist of growth areas.  

Hi Brian, the majority of hard money lenders want you to add the rehab money to the loan.

What we run into is even if there are no major repairs for the year; you have a 15% management fee; $500+ in setup an inspection fees annually, and $2500 in make readys with basic repairs you are looking at nearly $4k in annual, basic costs for a unit which brings $6k in gross rent annually. 

Quote from @Paige Corsello: Hi Bobby, the majority of my business is in Pittsburgh, PA and Florida Paige I can go 80% cash out in PA In FL I can go 75% cash out and 80% rate and term