My partner called the owner who had give the original estimate, said no way are we paying until the job is done. 

Residential at least has a chance of being profitable. 

My take on this is to underwrite purchases based on expected LTR rents (I like rentometer and the BP's own rental estimator), but start charging 1.5x that rent for your MTR.

I would say no-pitch meetups over a year would be the best possible chance to find someone who can be a voice of reason in your investing life if you don't have one.

Because, if you are a “regular” person meaning don’t make 5M a year W2 / legit bussiness which shows on tax returns, you can’t qualify for 20M loanAlso it mean, that people who buy 20M condo, chances are they have 100M-200M cash sitting and not doing anything.Return of equity is 0, as it also the cash sitting in a bank.Debt is cheap now days: 4-5%, but if you have “unlimited cash”, then not need to pay 4-5%As far as max cash flow and minimum risk - it’s something a lot of members discussed already.And last but not least - let’s not go off topic.

If there is a high interest, cash flowing investment, 90% chance I already have money invested, so I did not see the need to pay for the coaching.  

The rental market has softened in SF and that’s why the NOI estimate is less if I were to just market it for annual leases.

Does anybody by chance own rentals in Cahokia, IL?

Sure, buyer beware (I'll never buy a home sight unseen again), but terrible deceptive business practices and I can’t get the rent they estimated for this unit with it being only a 1 bedroom without a shower.After the sale, Ready REI was very slow on getting quotes and the few minor repairs done that we had agreed to.

Clearly there's a lot more ROI and work for a BRRRR.After finishing David Greene's BRRRR book and combing the forums, my impression is it'll come down to building the right team and doing our due diligence on finding and analyzing deals, estimated ARV, rehab costs, and rent /demand for an area with the most conservative estimates.