Ask him if he wants to give me a quote as I'm not to far down the road :D

@John D., I did include tax, insurance, repair and CAPEX in the cost but not PM.Tax abut 3k/yr, insurance $550/yr, 3k/yr for repair and CAPEX.

Originally posted by @Kyle D Birch:I'd start preparing a plan to scale up. 

@Victoria D, We have moved 4 times since 2004, We are on our 5th project a 5 acre farm we love!

Thanks for the messages @Jo-Ann Lapin and @Manolo D. and the tip!

If I may ask you just one more question it is this.GP has 20% equity and Limited Partners A,B,C,D have the following interest in the property's equity.A: 20%B: 20%C: 30%D: 10%If the operating agreement states that after payback of principal the equity split will convert into 50/50 would the Limited Partner's individual interest compress equally?

They might have done the laundry at 9pm but didn't make it to the dryer to collect until 11:01pm and now they have no access, and if it's a uniform they need to put on the next morning for work at 7am they might call you at 11:30pm to ask you to unlock so they can get at it.Personally I would have a talk to the late hour laundry tenant and get a better understanding on why the late hours before implementing any policy, and find out from the other tenant who complained what is the objectionable noise was it the washer agitating, was it the quick pressure draining of the water, was it the dryer buzzing when done etc...to make sure there isn't a solution before implementing a policy or a lock.Sometimes when tenants don't get along there is an underlying reason and what they complained about are the petty stuff that annoyed them but not the real reason.if you limit access you might find you are just transforming one problem into another and you now have tenants that don't get along because they are trying to do laundry at the same time.

Assuming a scale for A being Best and D being the worst neighborhoodsBuy cash flow properties in ideally B, B- To C+, C areas with good economics jobs etc.So if someone says they need $ 8000 in cash flow per monthWe would build the model as follows.

The loan should be non-recourse, but typically comes with "bad-boy" carve-outs, which transform the loan into a recourse loan if any of the carve-outs are triggered.  

Originally posted by @Joshua D.