I am interested in learning about and getting into real estate investing with a short-term goal of owning/leasing either SFH or small multi family properties to learn the fundamentals and a long-term goal of pivoting into larger scale investments in multi-family/student housing, self-storage, and MHP.

Here's the deal:- SFH in a suburb of a major city with great fundamentals (job growth, population growth, multiple sectors).- Purchase: $250K (presumably funded by Class A & B shares).- Rehab: $80K (100% bank loan)- Sale: $460K ($130K profit)- Deal is owned by LLC (seems like a general fund LLC for various targets), not an LLC specifically for this deal. - Payout: Upon sale and paydown of bank debt, Class A shares get their principal, then Class B shares get their principal, then Class A gets their 20%. - The Sponsor isn't taking a management fee (I presume they are majority owners of Class B).I would be investing $50K into the Class A shares, due in 90 days.

I simply warn people about shady turn key operators, which we both know exists in this industry.Thanks mate,I should be at this years IMN also.Let's catch up.Columbus in my opinion is too expensive and doesn't have the cashflow like a tertiary market like Toledo.Plus, there is lot of competition there.Yes, the potential for appreciation is higher but betting on appreciation is speculative.I like looking at the fundamentals of the deal and not getting swayed by the data.Data can easily be manipulated to make any market look great.Finding the right team that knows what they are doing is a different story.Thanks again.ps.

But buy fundamentals, cash flow, cost per sq ft etc.

If there is nothing fundamentally wrong... no harm done.

Ultimately, I'm trying to buildup a pile of cash within a certain time frame to do larger commercial investments with higher potential gains (this part I'm sure about - don't try to convince me to stay forever in residential haha).Assuming the fundamentals are correct, the next question is that of taxes.

Armin made a good point about capital gains exclusion due to the primary residence and living in the property 2 out of the last 5 years.I also want to say, I fundamentally disagree with the perspective of @Darius Kellar. 

What can you qualify for.But first deal make sure you go based on fundamentals, you can handle the mortgage, you have an exit strategy if it does not go the way you think. ie: rent out, flip, live in the property

Whatever you do in a tight contracting market you wanna protect yourself by relying on solid fundamentals.

Phoenix is on a huge upswing.Buy fundamentals and what makes sense for cash flow.