This document must be signed by the owner and the contractor.3) All draw requests previously paid by the contractor must be supported by these items:a) material receipts marked PAIDb) paid receipts from construction personelc) Copy of cancelled checksd) unconditional labor and material releases4) Draws will be honored only if the inspector has verified that the labor has been performed and/or the above material has been installed or intergrated into the site.5) Only those draws for items within the amount stated on the cost breakdown will be honored.

Mostly in labor.

That all being said, my STRs are all cash flowing very nicely even with the additional costs and labor that they require.

The labor is the same, the material is maybe 20% more.

Thank you @Whitney Hutten, @Ehsan Rishat, @Cameron Tope, @Joe Horan

It's important to know which one you'll use before you start.I would definitely recommend the Joe Fairless syndication school podcasts.

They are labor intensive when it comes to leasing, collections, turnovers, etc.

This is my first post so in case bartering is not kosher, I'll be sure to adjust :)  I'm having a harder time estimating labor rates than material costs, which you can look up one at a time on lowes or home depot websites.Any advice for a first timer trying to build good estimates to check against contractor bids and also know if a property is worth bidding on before hauling a bunch of people through wasting all of our time.Any help is greatly appreciated and Happy New Year to you all.

Sounds like you're pretty knowledgeable when it comes to MFH, so start reading other asset types of your interest.In terms of the books, I recommend reading "best ever syndication" book by Joe Fearless.Here're some additional blogs to help you understanding syndications and some of the asset types you mentioned:  https://www.biggerpockets.com/member-blogs/10850/86626-the-pros-and-cons-of-investing-via-real-estate-syndicationhttps://www.biggerpockets.com/member-blogs/10850/87614-interpreting-the-private-placement-memorandum-ppm https://www.biggerpockets.com/member-blogs/10850/88110-pros-and-cons-of-investing-in-self-storage-or-why-not-another-assethttps://www.biggerpockets.com/member-blogs/10850/88439-why-invest-in-assisted-living-facilities https://www.biggerpockets.com/member-blogs/10850/84504-step-by-step-process-on-how-to-invest-in-a-real-estate-syndicationhttps://www.biggerpockets.com/member-blogs/10850/79257-deciphering-syndication-investment-terminology

Would I also be entitled to charge him for my personal labor??