They can ticket and boot cars. 

Then I'm sure they will have the corporate PM, but they will need boots on the ground and those boots will probably cost more than those of a small local investor.My question would be can they compete long term in a local market with local owners?

So if your friends balk at you spending thousands of dollars on courses and boot camps, well, what do they know?

He may already be expecting to get the boot, or a large rent increase.  

You can't control what appraisers will do or say, but you can be armed with your own knowledge and use that to not only know what you're getting into up front but combat flawed appraisals.While you can probably read some books on appraisals and learn a great deal, the best way to learn is through experience.  

I have no relations in the area and would be interested in partnering with someone with boots on the ground.Am I just being naive in thinking I can do this?

It will require boots on the ground to vet the properties and get people to come to the door. 

If I do a value-ad building I would most likely want to buy for $1.5M or less and put $200 or less into it.My criteria is all over the place because within the County of Los angeles there are so many variables-- closer to the beach, unit mix, older v newer buildings, unit mix (I'm looking into some mixed use), value-ad vs turn key, location, stable areas vs up-and-comingArgh...my head might explode just thinking about all this...I guess having 6 months to close is a good thing because it gives me a timeframe.The variables change because no building is truly exactly the same--or even near the same when you put boots on the ground.

I would love to concect with like minded investors who have "boots on the ground" learn as much as I can from them along with creating a team for each state that I am looking to purchase multi-families in.

Have a guy that's boots on ground.