Now what is not on the analysis, however, is our tax issues.  

Primary Team members are experience in what you are proposing to do like Attornies/Lawyers, real estate Agents/Brokers, CPA's (or accountants you know and trust), Inspectors, Propery Managers, General Contractors, and Handymen.In the beginning especially, always do the math analysis and try to look at prospective properties before you make an offer or at least have a clause in the purchase contract that allow you some upfront time (about 10 to 15 days) to make a detailed inspection and possibly back out of the deal without a penalty that will hurt you too much.  

Do not cut any corners to make a project to make it look better on paper but not in actuality.Always remember to do a math analysis and try to look at the property before you make an offer on any project or at least have a clause in the purchase contract that allows you that upfront time (usually 10 to 15 days) to do a detailed inspection and possibly back out of the deal without a penalty that will hurt you too much.  

.), go to top sub-market in those markets, stay in class C/B- because people will always need a place to live, run sensitivity analysis on interest rates, caps, rent rates, etc. to make sure DSCR stays above 1.25 for refinance purposes and Return on Equity meets minimum requirements, and some may say keep hold periods to minimum (grab value and get out).I'm sure there are posts about tech/start-up bubble, but it will be interesting to see how that plays out, and how a bust might affect national economy.As always, keep diversified.

Now that you know the factors, you need to estimate them and factor them all in an IRR analysis ... google is your friend there as books can and have been written on the subject here on BP and elsewhere.Personally, my favorite thing to do is get into a nice neighborhood with great appreciation and rent growth that wouldn't normally cash flow, but force appreciation to make it cash flow for me early on and get an immediate equity bump. 

Do not cut any corners to make something (like an estimate) look good on paper but not in real life.Always remember to do the math analysis and try to look at prospective properties before you make an offer or at least have a clause in the purchase contract that allows you some upfront time (usually 10 or 15 days) to make a detailed inspection and possibly back out of the deal without a penalty that will hurt you too much.Find/Hire a Team of local and experienced professionals to help you get things done.  

@Brandon G. as a fellow numbers guy, I love the level of analysis and thought you put into this tracking spreadsheet.

I'm interested in a multifamily property in Norfolk VA but need a bit more information to do my due diligence and complete at least a reasonable analysis.  

Hello All,I'm looking into getting Cozy.co set up for my first rental and noticed that they have a Rental Analysis product  ($20) to help pin down rental  rates in the area. 

Also remember try to get the deal first and worry about transferring it into the LLC later don't get analysis paralysis and hung up on one thing.