@Michael Chiafulio I'd be happy to spend a few minutes to understand your goals and see if my market works out for you.

Let’s assume that the economy continues down for the next few years (interest rates are up, Credit is limited compared to  previous 8 years, spending is reduced and overall asset values both financial and RE are down). 

The multifamily market is booming right now, so if it spends more than one day on the market at that price there is a reason. 

Clearly I need to spend more time with him. 

Also, we are not replacing cabinets because they are really cool and retro, so we don't want to spend much on the counter tops... we will do a completely new kitchen in 7 - 10 years.

We could see RTC all over again.This is why we're spending so much time building out the infrastructure for our distressed debt arm.

We spend a lot of time at indoor facilities and while I'm there I always think how cool/fun it might be to own one.

For me, loosing 10% of the profits is better than spending the time myself.

A more specific question for you to ask yourself, how much time you can and want to spend on RE investing.

In the LOI you state that the seller has to draw up the PSA (Purchase and Sales Agreement) - this way the seller spends his/her money creating it and when you get it take to your attorney and then add in your stipulations that you want.