. - Total expenses is $3317- Total net profit recorded is $5211- $7311/mo- Cap Rate = 22.35%I haven't looked at the building.

@Demetre Dyse, it really depends on how organized the seller is in terms of keeping books and records.

Some background information: I've got a strong track record over the past 5 years with buy/hold duplexes but would like to get into something a little bigger.Thanks in advance!!!! 

Do you also have a copy of a deed with your name showing ownership, that could be looked up at the county recorder’s office?

The only problem is that I have a misdemeanor petty theft from 10 years ago on my record and I know that can be a reason for the board to deny my license application.

Skip trace service or county clerk/recorder/assessor office.

(This seller doesn't sound like the most reliable record keeper.)

Do I set up Blue Estate LLC then start first syndication single apartment building such as 10 units in property LLC which i sell interests of to investors and pay management fees to Blue Estate LLC and pay profit splits such as 80/20 to myself and investors. 6% preferred return.If you’ve syndicated deals can you please tell me exactly how you started, entity formation, first deals and details such as financing, income, expenses and investors, finding investors, finding deals, building a track record e.t.c. 

Do I set up Blue Estate LLC then start first syndication single apartment building such as 10 units in property LLC which i sell interests of to investors and pay management fees to Blue Estate LLC and pay profit splits such as 80/20 to myself and investors. 6% preferred return.If you’ve syndicated deals can you please tell me exactly how you started, entity formation, first deals and details such as financing, income, expenses and investors, finding investors, finding deals, building a track record e.t.c.

@Joseph BackFirst consideration is if the land contract has been recorded.