This is just a small allocation of my retirement funds.

I love the fact that I get to allocate the 24 hours of each day to whatever I desire.

Some observations from a small-time Cincinnati guy: - You allocate no money for property management.

I am allocating all of my cash reserves towards covering startup and carrying cost during the 1st 6 months of the project until cash flow from the sales starting coming in."

You can even allocate income to a minority shareholder who has a lower tax bracket to reduce your income taxes.  

I thought it wasn't going to pass financing, so my back up plan was to change the financing to the Homestyle renovation loan, but it passed financing so I didn't need to change the financing.If the seller is willing to do repair work, I think you can do a "hold back" on purchase funds to go towards the repair work ... in other words, title would allocate those funds to the construction company that does the work (based on a fixed bid, I would think).  

Just my $0.02You overstated your depreciation since you did not allocate any allowance of the property cost toward land cost.You did not account any expense for:utilities - there will be some expense especially during lease-uplegal and accounting - who is doing the taxes associated with the property and are you going to have an attorney look over your lease(s)?  

Financial advisors tend to just do the typical asset allocation strategy like it is scripture or something.

(I may also post this in another section of the forums)Example:Initial purchase price of condo: $150K (in an area where similar, somewhat updated properties are going for $165K+)Initial 20% downpayment: $30K (--> $120K loan)Renovation: $12K (new appliances, faucets, etc. nothing structural)Cash in after renovation: $42KPossible rent: $1700/monthMonthly Expenses using 50% rule: $850Refinanced mortgage payment: $765 ($8K down payment - 5%)Resulting initial cash flow: $85 (ouch)Appraised new value of property: $168K [Not sure what is considered to be the cash investment after the refinance - haven't gotten to that yet...]I'm seeing that at the outset, if everything is pretty much ship-shape after the reno (no leaky faucets, broken appliances) that the 10% allocation (monthly expenses) for maintenance might be on the high, albeit, safe side for at least a few years.

I tried searching the forum but could not find the answer, sorry in advance if it is somewhere.When it comes to office management companies, does the management team have the ability to make capital allocation and investment decisions?