For example, an 8% preferred return and a split of 70/30 (70% to the investors, 30% to you) for the remaining profits.Now, as you mentioned, the year 1 and year 2 net operating income may be lower due to renovations.

Was great until govt stepped in and started arresting people if they didn't follow KYC/AML laws (which I think are bullsh**)Hopefully we'll move to a simple VAT for taxes one day. 

@Kevin Leppink first thing first is that I have never done a direct mail campaign but I have been getting some ducks in a row as I have been deeply considering starting one with the simple goal of picking up one rental every 12-24 months or even finding a property to house hack.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

A simple text with a brief update would be better than no reply at all.

What do you mean deal "upsides" I was thinking of putting in some simple home automation to raise rent.

@Mike Cumbie you already had experts here explain why it doesn’t make sense and her situation is pretty simple.

I would assume it would be too time consuming to try to assess more specifically the operating expenses of each particular house?

Now, we write up simple contracts that have several milestone payments (most GC's ask for only 2 or 3 but we push for 4 or 5) as well as a early completion bonus and daily penalty if the completion date is not met.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bpThe second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.