Where is your property located and how big is it?

Fast forward to this past summer, started having some issues and was wondering if anyone else works with them and can provide some oversight 1) prop mgmt agent - we switched to a new agent and we have been having issues (addressing us by the wrong name/gender/etc, spelling errors in emails, long response times, one word responses to issues that were outstanding for a while, not contacting the right person despite us requesting several times, etc.) 2) issues with communications regarding finding a new tenant - we were notified in October '23 that our tenants were not renewing and we requested that our unit be shown prior to vacancy in January '24.

One outside the city is great, but the one located in the city is so terrible many landlords won't accept tenants with vouchers from it.In Detroit, it's a mix.

I saw a listing for a 15-unit apartment building that is for sale and the property has a 5.3 cap rate, this isn't the issue.The issue is in the listing description the agent said the building could have rent growth potential based on the rising rent prices in the area which she said would bring the property to a 6.6 capNow my question is why would I buy a property for 2.5 million when with this new expected cap rate the property would tank to just under 2 millionNOI is roughly 132,000 and most units are in pretty good shapeAnother note is the average cap rate in the area the property is located in is a 6.4 cap

That's why I am building a hybrid hotel/apartment community with automated entry, exit, and communication, on site amenities (pool, gym, laundry, outdoor courtyard with kitchen), located in the shopping and restaurant areas, and adjacant to major transportation corridors. 

Please consider factors like price, location, product variety, customer service, and brand loyalty.

@Cory RayI don't think the location of the CPA matters provided that they have a solid background in Real Estate and software/tools to support you remotely.There are 20+ real estate CPAs commenting in this forum.

I grew up in Denver but prior to moving back I lived and worked in the city for 10 years, so I understand the cost of living (even though I think it’s even higher now).

There are habitability standards specific to each location that you as the landlord would be responsible for. 

The non-accredited investors must still qualify as sophisticated investors, loosely meaning that they need to have prior business and/or investing experience that qualifies them as competent to understand all of the risks associated with investing in a syndication.