We have reduced that number, but it continues to be an ongoing challenge.

Ongoing monthly cash flow while property appreciates (values heading back toward previous, pre-crash levels)

Ongoing regular stable cash flow Lessons learned?

I ran into this situation this summer.

The problem I ran into on the residential strategy is that it doesn't scale as well as commercial.

I used to live in Horseheads, just so you know, so let's talk about the integrity of your three JV partners.How do you feel about waterboarding and one million "enemy" casualties relating to the Iraq War?

How much sweat equity would you deem fair to someone who brought you an investment property deal (off market and under market value) and offered to manage the property ongoing?

If you PM me with your phone number I will call you and let you know what we are doing about this, how you could help, and how you might be able to recover your money.Rest assured we are taking this very seriously, but since it is ongoing, I will not disclose anything else publicly.In spite of the slick reassurances, the best thing anyone can do to avoid being scammed is to NEVER send personal information or up-front money to strangers for any reason.

You get ongoing tax benefits like depreciation. 

Once you get the piece of land and negotiate successfully the due diligence is pretty simple, make sure the land is suitable to build on (go visit the property) and make sure the deed is under the current owner.