Call everyone in your database and assess their needs.

Assessed land value versus building value can be a help or hindrance, you cannot depreciate land.

At this point we decided to more forward with a second appraisal in hopes to reaching a more accurate assessment. 

Next thing you know I had spent years blazing through a dozen plus strategies, survived the mistakes, and found myself in ownership of a remodeling firm again, a lumber yard, 2 home improvement product lines, consulted to hedge funds, worked in syndications, and it was like a blur. 

We have a few dozen units in Buffalo and acquired about half the tenants with the properties.

I only have a dozen properties but I don’t spend an 1 hour a month on them.

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, you should sit down and assess your personal finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.

There are only half a dozen agents/teams in DC with substantial experience in the multifamily sector.

-walk around neighborhood; assess overall grade of neighborhood.

It's very common for us to put in dozens and dozen of offers.