Also curious, hows the RE climate out there in PA these days?

In today's climate it is hard to raise capital so recess from that program include lower management fees, back end split and include a preferred return.A preferred return is NOT a guarantee.

That can be a killer in a colder climate like Rochester.

Also, I am not looking to spend a lot of time managing this beyond the initial research, due-diligence required, etc for initial investment(s) and further acquisitions down the road as the climate dictates (ie, real estate investing won’t be my full-time job).

But it looks like they are incredibly irresponsible (Sprint, Victoria's Secret, Verizon).You can probably find better in this climate.

That will start to prep you a bit for what the institutional climate looks like or at least expose you to may possible tangents of further learning.

It relates to amount of inventory in the area, the quality of the specific units, and the general economic climate for that type of property and in that locale.

The loan as a result is deemed "current" and the deferred portion is collected when the loan pays off.This - and all other loss mitigation avenues - is becoming more commonplace in today's market climate.

I'm not a fan of rainy climates and major earthquakes so that nixed several otherwise nice cities for me.

I agree with you that the current climate is excellent for picking up great deals.