Plus, there’s a strategic advantage: I can live in one unit and rent out the other.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

I took a leap of faith, invested in a run-down apartment complex, and with hard work and strategic planning, I transformed it into a profitable venture.

Always seek strategic advice from a professional. 

I specifically want to expand on Chris's point by discussing capital risk buckets, which help set a target return range for IRR.At my company, they are as follows:Core: Lowest risk, Class A product, in Central Business Districts, ranging from 7-10%+ levered IRR (since you're in development, I assume this is most of the asset class you handle).Core Plus: Still low risk, strong location with potential upside, 10-13% levered IRR.Value Add: Medium-high risk, Class B+ or B-, mediocre to strong location with operational or physical upside, 13-15% levered IRR.Opportunistic: Highest risk, major upside potential, varying locations, 15-20% levered IRR.As for the GP/LP split on promoted interest, GPs can choose an aggressive split, but the decision should be strategic and consider the preferences and risk tolerances of potential investors.

Flexibility and a proactive approach will help you navigate challenges and protect your investment.3: Make strategic improvements 🏡Not all renovations will boost your property’s value equally.

This project highlighted our ability to enhance property value through strategic, minimal renovations and effective project management, resulting in a successful and profitable sale.

This project highlighted our ability to enhance property value through strategic, minimal renovations and effective project management, resulting in a successful and profitable sale.

If you make a strategic offer of $70,000, complemented by a rough $30,000 renovation investment, you position this property as a prime rental candidate and can command rents between $1,100 and $1,200 monthly.

This project highlighted our ability to enhance property value through strategic renovations and effective project management, resulting in a successful and profitable sale.