Now my question is, would you recommend such a large rehab project for a first time buyer/investor?

Even after renovation, the income you're projecting isn't enough to justify the price.

So, you may see higher COC returns than that 2%, you are projecting.

Also willing to help out in projects as long as it's not climbing a roof :)

Raising money isn’t a do-it-yourself project, you need the advice and guidance of legal counsel that specializes in securities law.

. :)Usually, the bigger the deal, the more sophisticated the operator is, and thus better records.So if you're doing more smaller deals, you may have to settle for less, but you can try and get creative during due diligence to verify your underwriting assumptions, like knocking on those same doors and getting a signed estoppel. :)James

Doing a syndication is expensive for the first round, that's why it's nice to have a few people you trust to form the LLC with you, and you can try out the process of raising money and meeting investor demands.If you don't have that kind of time, then I recommend investing in someone else's project.

Also, in regards to a MFH, I currently have some new construction quad (4-unit) projects going on with 4 buildings still available at this time.

Email me with your projections on number of transactions and transaction volume and I will try to help you find a solution.

I dont have anywhere near enough time or money to take on this kind of project but a house this size and age in this area could easily go for $175k.