While I often disagree with MikeOh, his advice/analysis on this deal is close.When it comes to commercial multi-family units, it is very difficult to operate below the 50% OE.One thing that jumps out at me aside from the obvious "proforma" gross rents is the very low insurance rate.

That generated a pool of cash to use for the initial expenses, the down payment, and operating capital.

Yes, try the 50% rule at first and then save like heck until you are holding 6 months operating expenses.

The GP needs $10M, plus money for operations and rehab.Might be an opportunity to acquire properties from the GP pre-rehab.

It basically states I operate the entire community, all expenses and improvements are on my dime.

People are willing to lend the US government money for virtually no return as 0 return is better than a loss in investors eyes right now!

Isn't what happened last night with WAMU the way free markets are supposed to operate...the best companies with the most money gobble up the weak companies for next to nothing?

As a graphic designer and having been in marketing for numerous years, here are things I worry about:1) Finding web master that are responsible and reliable (yes, you lose control)2) Many try to save a buck and go international only to get burned3) Investors find a designer who don’t know the business so can’t provide input on set up, design, and functionalityThe Norris Group happens to use Virtual Investor Plus for our back end for our retail website and I update some of the front end stuff by myself.

There has been an expediter from the Engineer's office coordinating documents on occasion up until 8/08.Now I have taken over the project and would like to get a clearer idea of what the standard operating procedures are.1.

You should try to find new tenants and you should pay all the bills associated with the vacant rental from the money you've saved from the income that is allocated to paying operating expenses.