I've seen so many folks crash and burn when they outrun their supply trains of investment and decide to throw in the primary to continue their pace of investing.   

The current development boom is continuing to push prices into the echelon of a market like downtown Chicago for Class A buildings and and limited land supply since its surrounded by water makes new supply very very difficult to come create. 

The other point they seemed to make was that any current tenant who is viewed as higher risk will not have leases renewed once the term is up.This seems like it will make the supply of units for people with marginal income and credit drop significantly, and rent will rise for those units.   

a) Office Supplies (e.g. stamps, envelopes)  b) Software  c) Gas/Mileage  d) Advertising + Payroll  e) Concessions  f) Lease loss  g) Lease renewal fees12) Lawyer/Law office/Legal fees13) Accounting/Bookkeeping/CPA/Tax preparer/Tax advisorHow-much-should-you-keep-in-cash-reserves-per-property?

So, for a $50k Loan you could have 1,000 “investors” to deal with, supply accounting, statements, answer questions, write checks to, etc??  

Things to think about:Transient occupancy taxes, inspection fees, business licensing fee, etcUtility costs, which will be much higher than average bc people use your property like a hotelLaundry costsConsumables (tp, paper towels, shampoo, soap, dish detergent, sponges, cleaning supplies, etc)

The reason I like to refi my existing property is that I can move faster, make stronger offers and get better deals with cash than I can with a nice downpayment and conventional loan.

What if you knew that a Lamborgini typically sells for 100k, but recently (due to supply/demand) the price was pushed up to 200k.

The reason being is that there is an over supply of housing in Baltimore City so there really is no reason for the city to be encouraging more units on the market.

Generally if you are supplying all capital and he is doing all the work you could structure a number of ways.