If you don't have boots on the ground that can oversee your "GC" (who seems like he's just gonna change order you to death, cause prices seem low), then your going to be part of the very long list of out of staters who read an article somewhere, that said you can make a lot of money flipping in Baltimore, and then are "one and done" investors in Baltimore.

I'm an advocate of having a trusted business partner as boots on the ground that has just as much invested in the outcome of the investment as you do.3.

If you have it narrowed down this much, you're at the stage right now where you should be out there doing boots-on-the-ground research.

It's also going to be and asset that is refi ready for when deals are to be had.Meanwhile the highly leveraged property boots your net roi as Brian would prefer. 

(Can help a bunch if your deal is value add)-Experience in Underwriting deals and due diligence-Organizing and systematizing skills-Operations and administration skills-a great understanding of construction and contractors (Boots on the ground is a huge plus)If you can already do a few of those things you may want to consider partnering up and starting to hunt for deals.But if you are a mortal like the rest of us small multifamily properties are a great place to start making mistakes.Cheers

Shouldn't the year's premium up front cover the next 3 months too, and then the next 9 to boot?

No PM though, as I am from the area, I have a lot of boots on the ground there including my agent who is also a successful REI and owns a number of similar properties in similar areas nearby.

Has anyone attended this boot camp or belong to the LA Real Estate Investors Club?

Make it sound like you think he is right, and that there just has to be something you're missing.Trying to get people to justify their price without being combative is a great way to make them rethink their numbers.

I have kind of naturally started thinking about that; just today I have considered moving to Boise to live, because we like that area, but turning around and investing in the Houston area since we have experience, contacts and "boots on the ground" here.