Excel has a very formula to get it done quickly as long as you have cash returns for each year and amount invested handy.You really can't calculate IRR until everything is said and done.

I've been using $/Sq.Ft. to tell whether my selected properties are over or undervalued, but I'm sure there are other great strategies out there as well.

@Sindy ZhengThis is not solely focused on underwriting, but Best Ever Apartment Syndication Book by Joe Fairless is an excellent book. 

The only difference is 2 bedroom has great view as it is on top floor.I am a downtown guy, love the energy and the excellent food and clubs around.

Has excellent credit and income.Tenant 2 wants to stay.

What matters is selecting properties that best enable you to meet your goals.

About the turnover, the apartment is in excellent shape, the current tenant maintained it extremely well and the unit was painted and renovated fully right before she moved in two years ago.

Just to add to Dave's excellent advice, spouses in a community property state that are the only members of the LLC are still viewed as a SMLLC and disregarded👍

stay in touch with your people - the so called "database" aka. friends & colleagues from all walks of life; Build systems to follow up & provide excellent client service; Understand that some will work with others - and, that's ok; hang onto & be grateful to those, who are loyal; this is a MARATHON - best of luck!!!!

@Ashley Yoviene That's what I am trying to do with my own Excel sheet.