But, if you're not here, you wouldn't know, thusly defining our competitive advantage.

@Erik PfundsteinThe answers you get will vary from person to person, but IMO a waterfall needs to be structured with defined hurdle rates.

You define the service scope with the agent.Rent Collection:  There are several ways to collect rent these days. 

Your right on the cap rate not really defining the value of the property since it is considered residential.

Find someone with the capital and give them a defined ongoing active role in the deal. 

(emphasis added)This indicates you can buy proper metals if it is in physical possession of a trustee defined in (a) (the top of the document).

I’ve always told myself never let your age define your success.

I only invest in heavily populated areas so I had to pass on the Tennessee suburbs.That's the other thing, define your business model so you don't waste time in this process, the more you have planned the easier and faster things will go for you.Good luck!    

Because one unit is vacant I would use 15% PM for the first year and 12% after the first year.Columbus is historically a low appreciation area which I define as having long term appreciation that does not exceed inflation. 

So step 1 would be to define your investment criteria.Step 2 would be to start filtering on those large popular sites and finding opportunities that meet your criteria.Step 3 is to analyze those opportunities and become efficient at understanding what a good deal is and what a bad deal is.Step 4 is after building knowledge analyzing deals, to reach out to brokers in your target market, communicate your investment criteria and build rapport.Step 5 is to receive leads from those brokers, underwrite those leads and make offers at a price that meets your investment criteria while communicating with the broker why certain leads do not meet your investment criteria in order to get more targeted leads in the future.If you do these steps consistently, I believe you will have a good chance of acquiring a great property that meets your goals!