Each of those variables can dramatically impact what I recommend, so it's good to have quantified each of those prior to meeting with an attorney.

This would have repercussions which you cannot even quantify.

Without talking to you on the phone it would be hard to go over potential investment options.There are different levels of being passive and active with properties and deal sizes with varying asset classes.The 10% return you have to quantify if total return or cash on cash return.

Cap rate is only a numerical thermostat to quantify what buyers in the market for a specific type of property are willing to pay. 

Was it based on a global income standpoint and thus quantified you and the LLC as one in the same?

Probably the toughest thing to quantify and measure, but the most important.

For some, time is money, and if that's true, the Time Value of Money principle quantifies things, and personally I think it's one of the best ways to quantify your personal time, especially for a quant-nerd like myself. 

.#5 Practice, Practice, PracticeWalkthrough potential rehab properties (or find properties virtually online) and practice creating detailed scopes of work, quantifying repairs and estimating rehab costs for the projects.Please let me know if you have any other questions.

Get one owner to allow you to inspect one building (do it for free), and achieve quantifiable results, and you'd be off and running.

One potential advantage that I am trying to decide to quantify for the passive is refinancing out and redeploying that cash later.