After we buy it, we would contribute some equal amount to strengthen its balance and then leverage to buy units.I would also bring a local property management company on board to take over the PM business and operations; and use the company's income, credit and track record to get around my lack experience and credit.

.- Derek I Lacy, CIC, CPCUAPARTMENTS Category: Real Estate and Rental PropertyDescription of operations: Apartments are dwellings built to provide residential accommodations for multiple individuals or families through a rental agreement.

I don't know inheritance law in CO but the property may have transferred from deceased wife to husband by operation of law despite the tenancy in common.

It's my understanding that these REIA "clubs" are a franchised operation.

-Fuel- $10,200-Scavenger- $2740-Electric- $1800-Insurance- $4400-Taxes- $20,815Net Operating Income: $112,345 Pro forma cap rate=17Here is my take away from this.

Our best run property in GA operates at $2,500/unit and we are using our leverage of managing over 1000 apartments in the same area to get great deals with vendors etc..

I think your services would be very valuable to an investor who wants to continue participating in his operations.

The LLC Operating Agreement needs to be drafted in such a manner as to convey certain IRS compliance language that will allow the IRA custodian to accept the LLC as an investment of your IRA.  

The bigger issue is what the operating agreement (aka limited liability company agreement) will look like. 

Probably the strangest thing is that one of the light switches in the kitchen actually operates the built-in dishwasher...can’t figure out why that ever would have been a practical requirement.