You definitely aren't going to have a great predictable return, especially in the short term, if you try to invest turnkey; at least at the single family and small multi-family level. 

On our second deal, we brought on another partner, to help with down payment and balance sheet.Thank God, because when we signed our next deal six months later, our partner was instrumental in helping us with the loan.

Probably short term rentals have a separate form because of the lodging taxes.Your attorney or anyone else can sign if they have a power of attorney, but the instrument has to recite WHO the principal is.

While a single stall garage might be only a ~10k adjustment on an appraisal depending on your local market, the lack of garage can kill market value which is harder to predict.

They will be instrumental in telling you where to build, how many residents they can handle, and also will give you more accurate estimation on the actual budge to make your pro forma with. 

I think we could all agree there are basically three answers:A) Stay the course - keep adding 10 bps for each year held based on stabilized market cap rateB) Take a little risk - use the current market stabilized cap as the exit cap tooC) Throw caution to the wind - use a cap rate that is less than the current market cap (*If you pick this answer what method are you using to predict a cap rate)Which answer would you pick and why?

No one has the crystal ball, but this is a prediction I currently have.

Last month, we predicted that the growth in pending listings would slow, and this materialized in May.

What is less predictable is the timing.

Want predictable efficient results?