Jake, we work with both very sophisticated corporate investors and new ones...primarily on the sourcing and acquisition side but also to provide repair and renovation and leasing and management. 

So in all cases but one the spread is greater than 3%, and in that case (using higher-interest bridge debt) we plan to refinance into lower cost debt by year 3 which will then create a spread in excess of 3%.Unfortunately buying commercial income property (includes multifamily) requires very sophisticated financial analysis and there are no shortcuts or rules of thumb that will give you the complete picture. 

If so then I would say his labor is additional to that...as would be the other members..You mentioned you were set up as an LLC not disregarded...so are payroll taxes being withheld from his checks or will he be issued a 1099 for his payments?...

Pre made analyzer spreadsheetI started to put together an Excel spreadsheet with some fairly sophisticated ideas in mind.

S corporations often require you to pay expensive payroll tax.

While a lot of syndicators offer investments to accredited investors only, there're still deals out there that allow up to 35 sophisticated investors based on the Rule 506 (b).

That means the firms pay no salary, no payroll taxes, no benefits.

Once I’ve created some income, then should I start looking for foreclosures, passive income and more sophisticated strategies?

You can pay yourself a paycheck out of a company account, but then you have to pay payroll taxes...more than you would otherwise pay.

Annual numbers are:Built in 1984 - Seems to be a B class complexPotential rental income $900K-$1M gross6% vacancy ($60K), $20K addition income from vending/laundry - no other amenities, $65K taxes, 5% ($50K) Capex, $28K Insurance, $16K contract services, $90K payroll/staffing, $150K repairs/maint, $6k utilities (tenants pay their own), $10K accounting/legal, $5k advertising/marketing, $100K (10%) PM (is that redundant with staffing?)