I can use the funds to renovate the house and use left over to buy another house.

We live on 6 acres so I've been thinking about getting a few head of cattle to raise and sell off.

Anyone have a few years experience with investing in any of the larger Multi-family funds (e.g.

We used funds from a 1031 exchange to secure the property.

Bite to bullet and just break even with a long term rental until I can raise them enough to cash flow.3.

This not only helps with organization but also shields your personal funds if anything tricky comes up.

NOI x CAP RATE = purchase price Simple example: $100,000 x 9 = $900,000You can then use pro forma numbers say after you raise rents, fill vacancies etc to project future value if you wanted to sell later on. new NOI x higher cap rate$130,000 x 10 = $1,300,000$130,000 x 11 = $1,430,000and so on.

They're continuing to raise money from new investors even though I haven't been paid back.

perhaps you want to cash out and throw the money into a fund like Open Door Capitol and just let someone else handle if for you...thats a great option too. 

I'm still thinking if this is the right move for me given the high property taxes there, hassles of out-of-state management, additional CA taxes, as opposed to simply investing in index funds (which might have more returns).