There's just a lot of demand right now for larger multi-family properties because there is  good story there, a lot of people are syndicating it and you can get incredible financing on it.  

As long the rates are competitive they are great because you don't pay origination...and it doesn't show up any place as a liability since it is just a contract between two individuals.

I also chose zip codes that I was really knowledgeable about but also weren't areas that have top selling homes - those are higher demand and more costly.    

Your taxable income in Year 1 is in the top individual tax bracket, 39.6%.

You should also consider "shotgun" layouts vs. true 1-bedrooms as there can be a big difference in demand and price for the less functional shotgun units. 

Just use an individual name and you will be good. 

Or, are each and every individual deal so unique that they can't be compared?

Then you can use the funds on demand as needed maybe start with the 40k renovations on your duplex and then have the rest of the credit line readily available to get the large multi-family you are looking for.I dont know the location of your duplex in California but $925 for rent per side seems reasonable and there may be room for rent increases.

They already introduced themselves, but I'd definitely recommend talking to them individually if you have any questions about the groups.

Ideally, what I would like to do is find a private individual that I can sit down and explain my situation to and show my business plan to.