I have 30+ units and on a regular month usually only spend about 5 hours total on management things, most of which involves collecting rents and bookkeeping.

Every month, I collect a payment from Don, use a portion of his payment for my payment to Chase and keep the difference.

I just haven’t had much experience with underwriting those types of properties, so I’ll definitely need to dig into that more.If you have any advice or resources for underwriting smaller multifamily deals, I’d love to hear about it.

Feel free to reach out if you’d like some additional resources or guidance on getting started.

Social media seems the best resource for this nowadays.Out of curiosity, what recourse do LPs have when GPs fail to operate according to the operating agreement?

Marketing, screening, collecting rent, unpaid rent, maintenance, capex, insurance, lawn care, vacancies, turnover costs, inspections, and so much more. 

MF with many garages to convert to ADUs, parcel splits, full on development, coop/tic with the resources to handle financing challenges, etc.To raise money in this market as a newby will also be challenging unless you can get it from friends and family.

I currently assign these scores manually, but it’s tedious and limits how quickly I can evaluate opportunities.Ideally, I’d like to:•Automate the collection of MLS/Zillow data.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

I always collect social security numbers, driver's license numbers, date of birth, etc.