Do you just need separate private placements or would you need separate operating agreements?

I have a very good friend who operates out of the Bay Area and buys cash flowing properties every year.

I think it's really about what level you are at.I was reading an article recently that said the most people start to feel wealthy and secure around the 5 million mark with 4 million equity and at least 1 million in cash.The people at 1 to 2 million felt like they were progressing but not close enough yet.Many people are trying to cover their lifestyle and business operations and to purchase more deals.

I'd kill to have hardwoods underneath that I could simply refinish.

•All minor maintenance is delegated to the tenant/buyer, decreasing operating costs.

This is his calculation:Estimated Gross Income : $206,268Estimated Total Expense : $107,515Estimated Property Taxes: $ 16,536Estimated Insurance : $ 8,004Estimated Total Expense : $132,055Net Annual Operating Income: $74,213Purchase Price : $320,000Plus Estimated Rehab Cost : $100,000Total Cost : $420,000ROI : $74,212 / $420,000 = 17.66%Now I don't know how much was added for management, maintenance, vacancy and other operating costi) What would you do from here?

If the lender does not, we 'self escrow' in a separate reserve account (not an operating account or tenant trust account) that includes recurring expenses and anticipated capital costs.

I will be operating in the Lawton, OKC, and Wichita Falls area primarily.

. :) )6) Ultimate goal is to systematize the flipping business so I do not have to be involved with most day to day operations and still have that revenue source.

But I also do contract negotiations, marketing, operations and project management, logistics, web development, advertising, bookeeping and public relations.