The title company should generate a file or deal number that you would reference when paying your earnest money.

If you are working with a CRE attorney that knows what they are doing, $1500 is a bargain for a custom PSA and organizing a LLC with operating agreement, resolutions, etc.

Most of the syndications I have reviewed recently involve upgrading C class buildings so they can raise rents and therefore values to generate good returns.

We find it best to have a checking account (for operations), savings account (for capital expenses), and a money market account (to keep security deposits).

When cap rates return to historical norms, values will drop unless net operating income increases.

We mail Yellow Letters to high equity and long ownership so it is obvious it's an older generation, but in Houston we don't see the same pattern or get that many people to say those things like in SA.

If you found a four-plex that needed some work/rents were low/run by a mom & pop operation ect....you may be able to get seller financing from the owner. 

Interested to hear ideas regarding how to structure a partnership correctly so it is win/win for both sides.We are young and able to act as the "boots on the ground" to handle all the day to day operations of the property, including management/tenant issues/repairs/etc but we lack the necessary capital to get into some of the deals we want.

However, this is subject to change depending on which market you operate in.

Now you have a non revenue generating lot AND abandoned property on your hands that has more likely than not deteriorated since the last time you held title.