Excellent comments above.

If they lose some or all of their capital the LP with newbie syndicator then they make it up in a month with other investments and have tax write off.

Most PM software won't be worth the cost at this point depending on your budget.At this stage, a good ole Excel/Google Sheet will do for keeping up with your income/expenses.

Excellent guide!

I agree with @Chris Seveney that Del Ray would be an excellent place to do this.

I’m not sure which one is the most realistic.BP Rental Property Calculator Rental Calculator: https://www.calculator.net/rental-property-calculator.htmlWealth Optimizer: https://www.rpmengage.com/wealth-optimizer Zillow: https://www.zillow.com/rental-manager/resources/rental-prope...In addition to the ones listed above, I’ve also downloaded Excel spreadsheets from a couple of other sources.

Personally a cash-out refi could help me get more quickly into all-cash BRRRs or a REI venture in Spain, however I don't know to what extent this is at the expense of rental cash flows, and what is the wiser decision long term.I've combed through posts online and looked for Excel templates to run some calcs and get a sense, but nothing really filled the void... 

However, I would write down in an excel sheet all of them and process that go into a rehab and do a estimation column and write-down those numbers. 

Oral agreements for rentals are allowed in most places but default to month to month.

and it's not that anywhere is "saturated," it's that prices AND rates are high.or as @Travis Timmons said - a creative niche that you excel in will cashflow.