I think @Scott Trench brings up a great point when he says "Many investors who don't know what that inflection point is will continually leverage thirsting for more, and ultimately wish they’d listened to Dave", but I plan on borrowing until the grave if the numbers make sense for my children and grandchildren.

My business partner and I plan to fund around 35% of each deal as sponsor/GP, and will raise the rest from our LP's.

I'm also in need of a CPA/tax advisor to advise on what's the best structure from a liability protection and tax planning standpoint.Thanks for your input.

Also this opportunity came through a turnkey rental company so there was additional premium baked in and as an out of state investor, I was not planning to visit there and don't know anyone who lives there either.

Thank you again for spending your time to break everything down into specific steps for me! 

Hello BP Community, we're having to bring an unpermitted unit in an older building up to code for a dwelling space and need plans drawn up to submit to the city.

As for an offer, start with your ARV and subtract out your renovation costs, financing costs, a reserve amount for contingencies, any profit margin if you plan on flipping it, closing costs for both the buy and sell sides, and soft costs for the permitting, etc.

Here’s my reasoning before even spending any time reviewing the syndicators track record or credentials.

I would also add that if you're planning to pay cash ( and actually leave the cash in the house), if it was me I would 100% skip flood insurance in that area.

Since you plan to put that money into another property, I recommend a refi.