I can't imagine how people syndicate these things, take money off the top and offer preferred return and still do well operationally unless they just luck out and catch rapidly rising rents/buy and resell passing on to the next fool.There is definitely some subtlety and lessons to be learned in them.

My life is changing rapidly, so I really have to make something happen.

I am a member of an REI group here in Grand Rapids so I have a good network of people I can connect with there.  

@John Quiles when you raised your purchase points you should have raised your gross margin targets incrementally.

I have decided that I want to buy owner-occupied housing in the Cedar Rapids area.

and I am rapidly learning.

I've been using the rental calc, and after all expenses and costs (including CapX, prop management fee, and a purchase price between $65K-$75K and an average rent of $1275 for a 2bd 2bth...each property cashflows around $75/mo with 4%-10% COC ROI.Im in my early 30's, so I am planning on reinvesting every cent of cash flow to grow rapidly over the next 10 years.  

Is the market appreciating rapidly there?

It a rapidly transitioning area within the "path of progress" with way more upside at that price point.

Temecula is growing rapidly, and being situated between SD and OC will continue to fuel strong appreciation.