I think his 12% may be referencing his multi-family that he owns and operates, unless he's not able to pull out all his funding.

However, I don't understand how buildings are financed when the net operating income will not support the mortgage payment.

The numbers don't make sense on small renovations here in the core of the city.

My current model, as an owner-operator, accounts for my time - here's how:  Each new tenant signs a list of repair estimates they will be charged for various turnover expenses as well as labor at $25/hr for anything not listed. 

Provides Operating Agreement.

LMGTFYDid you mean: condotel Search ResultsFeatured snippet from the webcondotelvietnam.com A condo hotel, also known as a Condotel, hotel-condo or a Contel, is a building, which is legally a condominium but which is operated as a hotel, offering short term rentals, and which maintains a Front Desk.

They have input to the operator but they don't operate the project. 

TK operators are coddled.  

We improved operational efficiencies by adding 3rd party management and repositioned the tenant base.

It operates much like cash, so eliminates the concern of non sufficient funds.Venmo: The landlord charge on this depends on how it is setup.