I am personally invested in 18 different passive apartment syndications.My opinion is that projections and investor offering memorandums don't always tell the truth when it comes to an investment.I believe the number one factor that will cause a deal to perform well is the operator behind the investment.You could have great return projections but if the operator takes their eye off the ball then it could go south rather quickly.On the other hand, a solid operator can cause an investment to well outperform projections.I personally look for operators that have some form of success in business in their background.Why?

You also need to check with the utility companies and get cost estimates from them for availability, fees, hookup charges, transformer and power line/power pole locations or relocation requirements, water, sewer,gas, cable etcYou will need ball park cost estimates from site work contractors for site work, roads, installation of utility lines etc.Once you have some answers to these questions you can get estimates from site-work contractors to do the work.

Or if you're just practicing, reach out to a few local property managers and ask for ball park ideas on how much things cost in that given area.

I would definitely house hack if possible, just to get the ball rolling! 

@Phillip KohIf you had time, I would list traditionally with a realtor and get more money than the offer from open door which is low-balling you.

Regarding contract vs event = you will have to look at your crystal ball to figure out which is a better deal. 

It would be great to hear from people with experience in the San Antonio market how realistic it is to successfully BRRRR a rental property there.I think San Antonio has a lot going for it: job and population growth, diverse economy with durable industries, property values rising but still relatively affordable, the list goes on...However, I've been having a hard time finding deals (on the MLS) with the following criteria:- In decent neighborhood (C/B)- All-in costs are 75% of ARV- Cash-flow after a refinance where you pull out 75% of the ARVFrom what I've seen, the numbers in SA seem to work at around the $190K ARV price point.

The ball is rolling on our first Fix and Flip.

Want to get the ball rolling Jan 2020.

I purposely low balled, just to gage their interest.