Investing in the market that you have knowledge of and the economic factors that support it is necessary. 

Don't get me wrong:  cash flow is still an important factor, it keeps the lights on, it pays for repairs and upgrades.

All of these factors/considerations impact each other to some extent and its impossible to know whats possible until everyone in the group is clear on what they need/want this to look like.Either it sounds like you're on the right path with the line of questioning. 

I would factor in 6-10% for property management.i have worked in property management for 3 years before and through the pandemic, and I have been seriously searching for property to invest in for about two years.

The only thing that I see missing if they are purchasing with hard money debt they may want to factor in 3% - 5% for closing costs (points, fees, title, etc) Thx Zachary!

Awesome job by Neal and his team in managing the properties and consistent communication with their investors.As a Limited Partner investing in a syndication, for me, trust is a big factor.

The biggest factor is thoroughly review their credit score report especially on time payment record and score.

When things outside of our control as investors change, (macro-economic factors, saturation, disposable income etc.) and there is no safety net, that's when investors can get really hurt.

The market is always evolving and there may be good deals to be had near term or you may need to wait a while, depending on many factors like interest rates etc.

Rental competition seems like a big one, but I’d love to hear how you weigh other factors too.Thanks again for sharing your experience—it’s really helpful!