What are your deal-breakers when selecting someone to work with and why?

However, the property manager I had lined up and selected has not answered any calls, emails or texts, leaving me high and dry.

Your tenant can forward the person he or she feels is an ideal roommate, but don’t take this selection as much more than a personal reference.

So the question isn't "whats a target ROI" it should be, of the 2 options in your particular selected market where can you do better WITH a manager included in both scenarios.

Here are a few recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Now that you’ve chosen your ideal asset class, it’s time to move on to market selection.

You should not be using someone else's prices (or Kukun's algorithm), you should be using your own prices from your local contractors and using the specific material selections you picked for your project.Here's an example of how bad some of the data is in Kukun and why it's not practical for investors that are wanting to create accurate estimates for their projects:I just added "Exterior Doors" to my project, and I was told that 4 single doors and 1 double door is $59,352 in Kansas City, MO which is 20x what I would actually pay as an investor.I believe the above was a bug, but nonetheless there was no way for me to fix this issue or understand why or how it was calculating this value.In summary, you don't need a fancy algorithm to tell you what something costs, you just need to know basic math and have a general understanding of how much materials cost and what contractors charge for specific repairs.For example, if I have 5 exterior doors I need replaced (4 single entry doors, 1 french patio door) this is how I would estimate the costs:- Single exterior doors labor 4 x $250/each = $1,000- Single door material 4 x $300/each = $1,200- French patio door labor 1 x $400/each = $400- French patio door material 1 x $750/each = $750Total = $3,350Add 25% profit for your contractor and the quote should be around $5k for 5 doors.The hard part is finding out what your contractors charge, after that it's just basic math that you can do in a spreadsheet.

Kudos on your selection of lawyers...his recommendation - and then your action - will uncover those ROI-zappers.  

The date of the gain event can be treated as later in time in some instances, such as gains received on a K-1 from a partnership.Boiling it down, for the 2-tier method (which most are trending towards), a property could be selected up to 6-12 months (depends on the date of formation) after date of investment in the Opportunity Fund, along with a plan in place to complete the project within 31 months.

Even if someone recommends an area for you to select, you still have to go and do your homework.