I agree with everything @Devin De Lange said and would add one additional factor to consider.

Plus I would be building equity, plus market appreciation, plus potential rent increases, and or refinancing if rates go down.In this basic example it pencils to acquire another asset for an appreciation play, even at a $1,000 loss a month.

The property was acquired through a hard money loan that is expiring soon and I still have not been able to rent a single unit.

What can we realistically expect from a builder in terms of closing cost assistance and/or rate buy-down I would never buy a new build at full price and count on zero cash flow. there was a guy who bought one and it doesn't cash flow and he's counting on appreciation. you should at least look at multifamily and in addition look at building your own.

I think I am gathering here from the responses that we are safe to say as a GP we own the property as are the other sponsor, but for additional clarity, disclosing shares in some cases may help bolster tacit understanding of who does how much of what.

Just understand the additional risk.

My best deal was an 81% cash on cash return that does not include the appreciation of an additional $60-80k in the last 2 years or the cost seg that got me a $90k tax write off.

@Kathy Kifer - I would add additional platforms: Airbnb and Zillow to get more traffic on your medium-term rental.

Should someone with little experience be acquiring thousands of units?

This is why as @Shawn Mcenteer to be on the safe side to give a full additional months notice to avoid any disputes is great.Eviction laws are strictly enforced - so better to not play loose.