But for a value-add or stabilized income property there is a lot less heavy lifting and the promote structure typically reflects that with a first hurdle in the range of 20% to 30% promote and an ending tier at 40% or 50% to the GP.The waterfall you described is a somewhat modified version of a preferred equity structure and if that’s what it is it might actually be a bit rich to the LP because preferred equity tends to have far less profit participation, usually none beyond a 12% to 16% IRR.

You can also do online rent collection through their partnership with Dwolla.The cheapest version is $9/month for up to 10 units, which is more than $50/year. 

Hi:I talked to Scott at strugglinginvestor.com and he is almost finished with the next version of free lead software.

If you want a web based version check this out.http://gabhartinvestments.com/tools/

And I don't think you have to just accept his version of what "housing" says.

The SAFE act passed in 2009 mandated that each state pass a law at least as restrictive as the federal version.

I do have an LLC established but I have not sold the property to the LLC because I am still trying to find the black and white version of what is allowed and not while using the VA loan.

I'd serve the tenants with your state's version of 3-day to perform covenants or quit.

@Cornelius CharlesHave you (or anyone else on here) had the chance to read the Real Estate version yet?

Although now that I look at my book shelf, he does have a couple (The ABCs of Real Estate Investing and an Advanced version of that one, forget the name) that do specify more.