The real prohibitive costs come from the legal, compliance, and reporting requirements of registering a security.

For example, a $200,000 property might require $2,000–$4,000 per year.

This attorney should handle creation of your PPM and state filing requirements, but they do not handle the PSA or closing. 

A partnership requires three things to be successful - Experience, Capital and Time.It looks like you have the capital and experience but maybe not the time.I have my doubts about this working if you have a friend who has weak credit and a limited cash flow.

Long-term rentals (LTRs) are stable due to Charleston’s strong job market, with areas like West Ashley, Goose Creek, and Summerville showing solid rental demand. 

We will always require at minimum 10% of a down payment for a purchase.

The underwriting process is certainly more arduous than most acquisitions but through my personal experiences some of the lenders are far more knowledgeable about the requirements and make for a far easier process for both seller and buyer.

The growing tech sector, infrastructure projects, and diverse job opportunities continue to drive population growth, making Atlanta a promising option for multi-family investments.

If you sell your only overachiever to go with a more leveraged position, you could have 2-3 properties that may cover themselves or even provide a little profit, but when the rental markets shift (and they do), now you have 2-3 properties that all require you to supplement for their shortages. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.