It's one reason I try not to be too critical of people who want to spend all of their disposable income on status - clothes, cars, vacations, whatever.

Also if you're only looking at it through natural window light, then you might be looking at it to critically.

When you eventually move out and turn it into a rental, you've have a ridiculously low interest rate for the next 30 years on one of your first buy-and-holds that your roomies mostly paid for for the first few critical years.

Hi David:Good management of an apartment business is critical to your success.

Please accept my observations as the constructive criticism that they are.

I will do a formal home inspection but I want to make sure he/she covers the most critical ones as well.Thanks in advance!

Third party data is critical, which is receipts, estimates, screen caps from local service providers showing hourly rates, etc.

Folks gave him some additional pointers that he may not have considered regarding the topic, which is perfectly cordial and acceptable.Your insistence that your opinion is the only right way for him to structure thing is not going to win you any friends here and, if you are looking to network, you will be unable to find folks to partner up with if you have such a narrow view of how real estate investing ought to be done.Open your mind up a bit and allow for some other points of view and you'll do very well here.What the OP is doing is perfectly fine and legitimate and, if that's the way he and his friends and family would like to structure things, then by all means it's not up to us to criticize that unless he asks "hey guys, what do you think of this structure?"

I'm not being critical of opinion you so kindly shared with me, I'm just trying to wrap my head fully around this

That's the critical question as you can own as many properties as you'd like, the only relevant part is whether they are financed.