If the market value mentioned above is accurate and the “initial” loan balance hasn’t increased by rehab funding, I wrote above that the proceeds are just a couple million after closing costs and commissions.

As Alex mentioned (thanks Alex), I run the Santa Barbara meetup.

The email I received today from BP only mentioned:  Free Property Management Software from RentRedi. 

Hi @Abdul HafeezAs Ryan mentions it will vary depending on the deal.

This travel expense is not a business expense related to the property you already own until you have identified the next property you want to buy (once identified, costs are added to the basis mentioned above).

My initial thoughts when it was mentioned, was to push him more to a standard multifamily investing strategy.

If the age of your equipment is older, or it stops functioning, those repairs can also add up.

Local market knowledge is absolutely critical, and it helps to work with someone who really understands the landscape and its nuances.As others have mentioned, it’s a broad question that’s tough to answer succinctly, but I hope this provides some clarity!

Like @Charles LeMaireand @Justin Kane mentioned Joe Fairless and @Theo Hicks have a great book that goes over every step of the process on how to become an apartment syndicator.Are you looking for a more active or passive approach?

Watched this one and kept waiting for the point you mentioned.