It's my understanding that these REIA "clubs" are a franchised operation.

-Fuel- $10,200-Scavenger- $2740-Electric- $1800-Insurance- $4400-Taxes- $20,815Net Operating Income: $112,345 Pro forma cap rate=17Here is my take away from this.

Our best run property in GA operates at $2,500/unit and we are using our leverage of managing over 1000 apartments in the same area to get great deals with vendors etc..

I think your services would be very valuable to an investor who wants to continue participating in his operations.

The LLC Operating Agreement needs to be drafted in such a manner as to convey certain IRS compliance language that will allow the IRA custodian to accept the LLC as an investment of your IRA.  

If the area is not zoned for multifamily or, if the lot dimensions and coverage do not comply, there will be no legal conversion.   

The bigger issue is what the operating agreement (aka limited liability company agreement) will look like. 

Probably the strangest thing is that one of the light switches in the kitchen actually operates the built-in dishwasher...can’t figure out why that ever would have been a practical requirement.

I use property management, but your right there are challenges to operating out of state.  

I own several in Southern Cali and but have to have be the legal owner and put the tenant on as registered owner in order to comply with Park Rules and Regs.