Here is what J Scott had to offer on Zuck's quaint alternative social media site. 

@Raeshelle CookeDidn't know the tax and insurance was included in the $1981$1981 for mortgage+tax+insurance on a loan of $281600 seems doable but double check.32% is the total of the expenses which comes to $1600 Don't know about the area but I would suggest add 5% as vacancy as well2ns business loan for downpayment still stays at $479Cash flow = 5000 - (1981+1600+250+479) = 690 

Needed some guidance on the fees for this kind of real estate and whether the offered pref and LP/GP split actually makes sense or is it too high/low?

I would withdraw my offer immediately and look for a new renter.

Single-family homes offer reliable rental demand, lower turnover rates, and the ability to benefit from property appreciation over time.

I've dabbled in the new construction space here in Chicago and there is A LOT that goes into it...I'd highly suggest spending some 1:1 time networking with some other investors like @Jennie Berger or @Prashanth Mahakali who are both Chicago developersYou make your money with the land purchase and then systems/processes/volume over time in the development game, but it's not easy and competition is high!

That said, trading up is never bad but there isn’t enough information on what you have, your goals or you timelines for me to offer suggestions on whether or not you should sell.

I’m in discussions with teams in Memphis and Detroit, but I'm still open to exploring other markets before making a final decision.Thanks in advance for any suggestion and input.

Any suggestions on good locations for cash flow properties for multifamily of 20+ units?

The high vacancy rates in apartment properties in Memphis may be due to economic fluctuations and demographic shifts; however, they create a favorable environment for potential renters to find affordable housing and for rental owners to innovate and improve their offerings, ultimately contributing to a more dynamic and resilient housing market.