There are several reasons for that,   summed up they are:1)  the duplex is the oldest property (pre-1900) and while well maintained,   is economically and functionally obsolete2)  Located on L2 zoned land  (4 townhouses,   small apartment/ SEDU complex, etc) would be allowed on lot.3)  I was ready to end house hacking,  I had lived in one unit of the duplex since purchase4)  Lower unit (one I owner occupied) not habitable per Seattle rental inspection ordinance.   

After PITI and maintenamce expenses  I cash flow about $400 /month combined between both units. 

And of course, if your three unit is a three-bedroom or caters to college students who don't combine their laundry for washing, that coin box is going to fill faster.

People, like yourself, who understand that, and understand the power of combining criteria tend to do far better in this business. :-)

We determine and create technologies of the future.So I am used to that stuff and that sort of functioning and operating.I started my company with a R&D department first.

As a long-term buy-and-hold investor, that's going to be some combination of cash flow and CoC return.So, don't be distracted: Chasing appreciation will only break your heart, and occasionally (as in 2007), your entire portfolio!

Purchase price: $1,150,000 Cash invested: $115,000 32 unit apartment complex purchased with 10% down with a combination of owner and bank financing.

It is generally not a good idea to replace galvanized to copper if the plumbing is completely functional.  

Yeah run away from this, they’re making money on fees not on investments.I am not an expert on syndications but in general I’d look for some combination of the following fees/splits etc.Here you go: 1 percent management fee, 1 percent acquisition fee, 1 percent disposition fee. 65/35 split and at least 8 percent preferential return to investors.

Then you said they will give you access to 250k of funds but how does that combine with the 70% LTV of ARV or the 100%?