But the nice thing about a commercial property is that you do have control over the value of the property. buy-out costs have to be baked into a business plan along with a clear understanding of what the property can produce over a given timeline. $2.2M for 12 units could be a really good deal in a good location with the right plan or it could be money pit and the end of an investor if it is in the wrong place or a bad building.

Even if you found a deal for $200,000 that produces $9,000 a month income, that's a complete unicorn that you probably found off-market.

I do 12-month leases all year round and it actually produces more income.

It's a means of producing income, not long-term wealth. 

We did not fund the last few million of the raise, so we are allowing the final slots to come in at up to 20% APR, fixed annual simple deferred return (deferred means you get all of your interest earnings at the end when we repay your principal – and that happens when we finish building and then sell the apartment complex).This asset is our safest MF asset, in my opinion, BECAUSE the project is backed not just by our equity in the apartments – but by our equity in the entire 54-acre land development.

Remember they can add 75% of the potential income that the small multifamily will produce to your DTI ratio. 

Quote from @Bocondo Williams: That's the problem with free software: they eventually have to generate revenue, then they want to produce profit, then they want bigger profit.I think most software is going to charge $1 or more for every ACH payment.

We started with flipping to build enough cash to start buying income producing properties and have decided STR's is the way we want to go.

This means cash flow is producing 4.3% ROE.  

Another concern I would have is that if we enter into an economic situation where tourism declines and foreigners stop buying expensive second homes there, you could get stuck with a property you can’t sell that isn’t producing much income.