Purchase price: $150,000 Cash invested: $15,000This was an MLS duplex deal that the stars aligned and we were able to purchase this past fall.

But to answer your question, all of the people I coached in getting properties had lent to me on previous deals that I had done (except for my assistant - we helped her get a property because she is a rock star).

Mike Ernest with Team Endicott is a rock star.

@Nick Dini all the stars aligned for that it seems but you were also prepared and confident enough to make a quick decision.

I think similarly - I'm in the market for my first investment property and am not necessarily shooting for the stars or a deal where I pull every penny out of it after refi - I think there is great value to the investment and money you'll leave inthe deal considering the appreciation that you're going to see.

That is a big focus moving forward is working to find my all star team.

Loopnet is the free, public side of CO-STAR, but I'm told there is a significant delay before it shows up on Loopnet, as in months. 

Working with a good team of real estate agents and star wholesalers will be key in achieving deal flow.Finding deals is not as easy vs. 10 years ago.Another crucial component is having a commercial portfolio lender who can refi your money out. 

It became a no-brainier on what we should do after running through a few scenarios and that's not even mentioning having to recapture deprecation on the sale of the property or the fees associated with purchasing a new property.If the stars align for you and you can increase your rate of return by selling your turnkey property and investing in another do it!

The Motel is the only apartment/lodging within 20-50 miles in each direction and 11 hours from Dallas Fort Worth, Texas. 11 units total with 10 flexible apartments and lodging and 1 unit for Management5 one bedroom or suite units with separate living room, kitchen and dining area2 studio apartment units with two double bed overnight units and one single bed overnight units4.3 Star Trip Advisor Rating -- 23% repeat businessTurn KeyTerms: Owner Finance - No Qualifying Loan for SellerPrice $350,000 w/ Down Payment of $50,000Interest 5.5% for 40 YearsPrincipal Pay Down - $10K or less = +2%, $10K plus = +4%, $20K plus = +4% (For example, I put $10,000 towards Principal and receive bonus of $10,200 applied toward Principal.)Income: Gross Income for 29 months (6/2015 - 10/2017) = $168,888.00Total Expenses for 29 months (6/2015 - 10/2017) = $81,200.00Net Income NOI for 29 months = $87,688.00Monthly Net Income = $3023.00Annual Net Income = $36,284.68 (Average for 29 months)*Gross Income for October 2017 = $6987.00 (Sturgis Rally)Gross Income from monthly apartment rentals @ $599/month per unitGross Income from overnight rentals @ $68/night per unit *(For 2018, raised to $73/night)Monthly units @ $599/month have been as high as 6 units per month, yet varies!