Expenses on an APOD should come from actual expenses from how the property is currently operating.

From a cash flow play you have 2 units 1250 X 2 = 2,500 monthly X 12 = 30,000 gross incomeTake away 50% = 10% vacancy,30% operating and expense,10% property management.15,000 NOI per year at a 10 cap for resale is 150,000 purchase price.225,000 would be in the 7 cap range.300,000 would be in the 5 cap range.This is excluding immediate repairs needed to the property when purchasing.That would drive the price down further.For a cash flow play not that great but you can list it and see if someone wants to buy on appreciation.

You will have some maintenance issues with the Corp and LLC and some can be limited with a good by-laws/operating agreement.

Are you still operating the C Corp that is 401k owned or have you found a successful exit?

Seems to me the smarter thing for them would be to have their money secured in an LP that owns the property so their liability is limited to the original investment.3) Also, I don't want a subordinate investor trying to micro-manage the daily operations of the business.

You may have addressed this in your operating agreement.

It takes a lot of SFR spec build or rehab deals to equal one of those if purchased correctly.I have an operation set up in east Austin where I work with some trusted partners and pay them a small fee for their time as part of the overall project.

You'd need someone to look at the specific house, be able to figure out what's underneath and what would be invovled in putting on a stucco coat, then get pricing.

It has 21 lots and a 5 unit apartment building plus a laundry room (coin operated) The MH park needs a lot of work.

Jason: you will find the 2% rule operates in low income , low priced properties not necessarily in war zones but not in A or B areas.