If you are going to move from residential (1-4 units) to larger multifamily buildings you will need to look at things like a business: it's all about the operating margins and cash-flow.

Care to share with me which turnkey operator your investor was working with?

I am a real estate investor operating in and around Baltimore, Maryland.

The Operating Agreement for the LLC will spell out other agreements with members (you and your wife), and it sounds like 50/50 for capital, profits, and losses.

If you paid 100K for the property and expended 25K in initial capital improvements, then use 125K as your cost.Going forward, you would put together your operating forecast/budget to include all the typical expenses: utilities, property tax, groundskeeping, admin, marketing, etc along with your allowances for vacancy (8-10%), maintenance (10%), and property management (7-10%).

At first glance it looks like a great resource and I look forward to meeting everyone...either in person or virtually!

If you plan to wholesale, you can do it virtually, you don't have to live in the market where you wholesale.

The build rate of Senior/single story 'patio housing' here is exponential given the weather, taxes & build/operating costs.

The site is:www.therealalliance.comThey appear to have everything you need to get started readily available for you to utilize and maximize your deals including virtual assistants and software to keep your team informed and on the same page.Any and all feedback is welcomed.

@Don Konipol flippers in Houston that are operating under this assumption are not going to be around for long.