Networking is a crucial component of success in this industry, and I'm glad you're taking the initiative to reach out and connect with others.One piece of advice I would give you as a newcomer is to focus on building relationships.

Agreed, I definitely don't want to lose them, but my location is growing, and I also know they wouldn't reach out to me to have them increase their rent when they add more equipment, in a neighborhood I know is growing.Can you tell me more about that Cap Rate component?

If you are valuating SFR's focus on  other long-term plays like debt pay-down, equity, and tax benefits...Not discouraging your valuation..practice helps...but your vacancy loss is pre-determined as a component of GOI...it's not an operating expense...and capital expenditures are what they are...again, not an operating expense (and 15% may be excessive...).PM me or feed me a couple of your property addresses and financials and I'd be glad to help you sort these out. 

Similar component can be worked out for Deal 2. 

but here are some things to consider:how is bringing the moneyfinding the dealdoing rehabmanaging tenantsselling the propertyetc.....when you figure these components out place a value on each one and that should be a starting point to who gets what.

If you ask any lender, they will answer the three question above as follows:1 - The cash they lend to the REI2 - The Bank, because it it's their cash3 - The borrower (REI)OK, let's take this same logic and apply it to the asset as a whole, meaning all components of that asset...the cash put in, and the property itself:  (Assuming a 20% DP and 80% loan)1 - 80% of what is at risk is the loan, and 20% is the down payment2 - The Bank is 80% at risk, and the borrower (REI) is 20% at risk3 - The Borrower is 100% of the risk.Now, assuming 100% cash in (100% equity):1 - The cash the borrower put in, which is the equity2 - The REI is 100% at risk3 - The REI is 100% the riskNow a question from the person suing you (really from the lawyer's perspective):A - If you are sued and lose, any liens on the property must be paid off. 

There was a "Grant" component to the EIDL loan which is just free $ but the actual loan is not forgivable from what I can see.  

The amount I will contribute will be way under $18k, so I only have to use the employee contribution component.  

That being said, I know Joe pretty well and have done deals with his company and if he did say that on one of his podcasts maybe the actual intention was to say that they offer 18% avg annual returns which is something that makes more sense.In any case, here are the numbers that our operating partners are currently achieving, and what you should expect from serious operators that are playing in the Class C+,B+ stabilized multifamily with value-add components arena:- 1st year Cash-on-cash: 5-8%- Avg.

You might ask a realtor friend to run a quick CMA (comp) on the property.But, let's assume the tax appraisal is accurate.