Here are five dangerous provisions to watch for in an Operating Agreement:Dangerous Provisions to Watch:Authority to incur debt without investor approvalPower to make loans to other entities/projectsAbility to cross-collateralize with other propertiesPermission to use investor capital for other venturesCommingling of funds across different projectsWhy These Are Potential Ponzi Indicators:• New investor funds could be used to pay existing investors• Project-to-project lending can mask poor performance• Cross-collateralization puts your investment at risk for others' failures• Commingling enables masking of financial problems• Lack of project segregation enables fraudulent schemesProtective Measures to Look For:Strict single-purpose entity requirementsProject-specific bank accountsDebt limitations and investor approval requirementsProhibited related-party lendingClear fund segregation requirementsProfessional Best Practice:Request bank statements showing separate accounts for each project.

I'm not familiar enough with RDU to give you specific areas or submarkets. 

Happy to answer any specific questions you have. 

I'm specifically looking at a property on Lake Monroe.

I have 7 MTR and my income is 1.7x my long-term rates ($1200 vs $2000), but that is very specific to my properties, my location, my business model, etc. 

I would focus specifically on markets that are landlord-friendly.

The reason I ask is if you're starting a "non-real estate" business, I'd recommend NOT using that business to buy any properties but use a real estate specific LLC to acquire your properties.

Wanted to get some thoughts from more seasoned small multifamily investors on a few items or any other suggestions:- Any specific pros/cons of any particular states in SE (TN, AL, GA, NC, SC) to consider?

Here are the specifics on our Seattle house: 5br 4ba 3,400 sq ft, built in 2019, $1.7M est sale price, $5.5K-$6K/mo est rental value, 4.0% mortgage with $3.3K monthly payment, around $1M in equity. 

In mid February, many tenants get caught up when they start getting their income tax refunds (depending how fast they file).Income tax refunds also give tenants the needed funds for first month of rent + security deposit, so they can move.Check out this graph, which was created from tens of thousands of data points:Regarding your property, suggest the following:1) Where specifically is it being advertised?