In all major cities, especially ones with a higher crime index, unless you study the market and know it, I would never rely on someone else to choose a block.

Acquiring Clients: For those who’ve raised capital successfully and built a strong network of clients, how did you go about finding and nurturing those relationships?

I found this deal as an off-market property through my local network in the Hamptons.

Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

To them, everything takes "5 minutes" to do.The entire PMC industry has major challenges when it comes to handling maintenance, so it's a featured topic at most industry conferences. 

@Dwight HenningRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Let’s cut through the nonsense: this isn’t about networking.

Networking How did you finance this deal?

thanks for the guidance @Kaushik Sarkar Since it's development it will take longer to get to the exit. 3 years could be right depending on the market, if the project requires entitlements, how long it takes for permits, no major utility obstacles, etc.

Many of them are posers - I smile and nod, knowing that their posing will make an impression on many who dream of quick wealth, and that their incredibly transparent bullsh** will eventually blow up in their face, leading to no lasting wealth and potentially major problems for themselves and everyone associated with them.Many of these students receive referral fees if they are able to sign up other people to the expensive ($5K+) coaching programs, masterminds, mentorships, or tribes.