For MFUs however, you are buying a cash flow and you don't buy-to-flip IMO - - these are buy & hold.The prospect of an acceptable cash-flow trumps current market prices, as even if there's a typical 7-9 yr cyclic behavior, you don't have to fret;  just ride it out collecting that cash.Contrarian thoughts:  If your economics go in the trash, your W2 job moves to Podunk, you might find yourself in a forced sale.Real Estate or the USD 'could' get really burnt and we just 'throw our silver into the streets'.As JFK said, Life isn't Fair. 

Call me old, but my time is very valuable so I only want to take on opportunities that make me happy and fulfill me in some fashion.

The members of the LLC are just going along for the ride. 

So much is going to ride on the ability of the builder to complete the building within 180 days. 

@Brad Seidel  I assume your Brother In Law wants to buy a home in Taylor to ride the value wave associated with the massive Samsung plant being built there. 

Blow out in time frame= more holding costsElectrician incompetent, had to sack him, which meant additional costs to complete the workThe upside-  prices kept riding,  yay, saved my sorry axxx.  

Just be sure to call in a locate for utility and gas lines, pull all the necessary permits, handle the rough and final inspections etc. of course, but trenching isn’t that hard to DIY in most scenarios and you’ll save a ton by renting a ride-on trencher from Sunbelt.

So far, they've been along for the ride based on trust that I will make it fair when it happens, and I haven't put any numbers out there, but they are comfortable with taking a percentage of the profit at the end.  

They're WONDERFUL for cheap cooling and beautiful for heat at 30 degrees and higher, but most have told me even the brand new ones struggle below 10 degrees and they cost more to run than old fashioned electric below a certain temp.

Between the high gloss and rounded corners, there is little crinkle damage riding around in my phone case or in my clip-board cubby.