Just to give you a bit of my background, I am the owner-operator of RAL's in GA.

We currently invest and operate our real estate investment sales business on the Treasure Coast (from Sebastian to Stuart) essentially Indian River, St.

It explains the importance of creating your core four.

@Bruce Lynn is pretty close, and maybe right on the money with some areas/operators. 20-30% is pretty common.

The caveat of investing out of state, as you pointed out, is the time consumption/prepration of developing your core four (RE agent, lender, contractor, pm, etc.)

It explains the importance of creating your core four.

HML said an alternative is to change operating agreement to show >80% equity by primary borrower.To me, running credit on all the partners is the obvious solution before changing the operating agreement.

But, as you've noticed you have direct and indirect operating costs to do it and maintain your corporate veil, otherwise what was the point.I'd be happy to chat. 

Under MLI Select it said Purchase/refinanceOPTION A: 80% of units: maximum rent is ator below 30th percentile of rents (CMHC in thesubject market) for units of similar type (numberof bedrooms)OROPTION B: Project approved under otherhousing programs/initiatives (municipal, provincialor federal) that provide support for developmentof affordable housing such as capital grants,municipal concessions or expedited planningOROPTION C: Social housing projects with upto 5 years remaining on operating agreement:additional criteria applyNote: For all options, the affordability of designatedunits must be maintained for a minimum of 10 years.Affordable units are subject to provincially allowableannual rent increase or CPI.Pretty vague description and doesn't speak to the point system so i'm waiting to hear back for clarification.  

And make sure you have the relevant bank account statements/preapproval and operating agreement if applicable for submitting offers, as many seller entities may require additional documents for offer acceptance, purchase or re-fi.