My point is even some experienced operators doing more extensive/sophisticated value adds are struggling in this market. 

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

A clear operating agreement from the start is key to keeping on the same page. 

We own and operate a mid size REI and property management company in Marquette Co. (~300 units or so). 

I may be 19 but that does not have any factor in how I efficiently operate my business, as you can see.

And we were operating at scale, so we had the luxury of riding a float for such.

Tip #1 - no such thing as one perfect market There is lots of data on Bigger Pockets and MTR experts that have released rankings of top cities for next year, but remember it's not just about the purchase-- it's also about the operation.

It just might be a different strategy involved.Cash flows through refinance or sale or operating cash flow is the same in my book.  

Even if city looses, they'll probably make things difficult on operators with all kinds of rules and regs like many other cities. 

Minneapolis is operating at about 50% PD staffing now due to the collective stupidity.