IRR measures returns of LIKE investments, carrying similar financial and market risks, of similar liquidity an other risks.

A family friend that has his on REI business (175+ properties) wants to start liquidating his properties and is giving me first dibs.

A also hope to get into larger apartment complex.   

Most of these folks are working full time as an REI and may not have a ton of liquid assets but do own some free and clear properties that are rented out and positive cash flowing.

He if the borrower has at least 50k liquid in bank account, ira, 401k or any type of investment account I can get him preapproved for a line of credit for five times the amount he has.

@Kai Hicks good question, and great responses.That's one thing I love about BP - A pretty mundane issue comes up, and someone almost always pitches in with a response that encompasses all of the other unacknowledged and larger issues, and does so in a way that is also positive and instructive. 

As far as more risk is concerned ...4 streams of income can become 4 possible liabilities if you aren't prepared to handle the larger property.  

We offer renter's insurance to our customers as a reseller through one of the larger 3rd party renter's insurance providers, and we receive a 10% affiliate commission on the policy. 

What if Getting together in an effort to secure a larger portion of the market share.

The exception to that is if you're doing larger commercial deals with agency debt.To the second point...