Trying to wrap my head around the real estate finance cycle.

At this point in the cycle and really always you should be trying to buy under market value.

Lot's of these multifamily syndicators are hyping things up based on buying 3 to 6 years ago at market cycle bottoms.

Since you have good jobs and credit, I'd do this first to build your wealth at the top of this cycle.

Those people who are successful are sticking to something and not chasing supposedly market cycles.

The goal is to raise $10-20mm in order to invest in a specific area in the South-side of ChicagoHere is the focus:Multi-family, Office, and Land$500k - $10mm assets with value-add and core plus risk profilesOn- and off-market opportunities sourced through brokers, note purchases, recapitalizations, shore-sales, and bankruptcy salesMedium-term investment cycle (5-10 years) My partner is a man who has lived in Chicago his whole life with 50 years of RE experience.

If, in forty years, someone else buys that property with the fence on it, he gets to start over the 15 year depreciation cycle from the day that he buys it.Depreciation basis starts over when a property is sold, regardless of how much 'useful life' the assets actually have.

Tenant turnover is the most expensive part of the investment cycle and most disruptive to your performanceThere will always be demand in areas where families want to raise their children so the appreciation will be relatively stable and the rents will be able to increase almost every yearBanks like to loan on these properties as they are considered much lower riskI know that it doesn't meet your current goals, but it happens faster than you think.

Go ahead and travel to just east or west of downtown, in KCK or KCMO respectively, and you'll find the same thing you experienced in Milwaukee, which is a certain segment of housing at the end-phase of the building life-cycle and nearing the point where it will get fixed up or bulldozed, starting the cycle over again.

But there are cycles and the next one will come eventually.