Lifestyles Unlimited is controversial here at BP, but one thing they clearly don't get enough credit for is issuing deal sponsor guidelines that are fair to all parties.You have no track record, and are justifying taking equity based on pro formas that may or may not be realized.  

Life isn’t fair, but it’s still good.2.

Just dividing the utility by the number of units doesnt seem fair to me, and (seems to me) might aggravate the tenants on the remote chance of them discovering it.

Danger: Fairly new investor trying to invest in multifamily in a out of state market, thousands of miles away, with little market familiarity, no well establish & trusted professional network there, and money burning a hole in their pocket is one of the riskiest conditions I can imagine, second only to perhaps trying to flip in that remote market.

Fair enough. 

The bubbles seem fairly typical for a new install in my experience,it's not something I would worry about.

I found a fairly interesting way to structure my first deal and I am wondering what you think of it.I have under contract 60Linden street Pawtucket RI  MLS1123800.It was a forclosure listed at 169,000. 

@Lonnie Waliczek  HML  exist because of what you just found out.. its far and few between that you can find a bank that will do flip funding.you must be exceedingly strong financially I mean to the point the bank feels that if you goof up the flip you have other means to pay them back and that their security is not just in the asset like most loans.I have had 7 figure flip funding lines for going on 20 years now it took me 10 years with the same banker to get to that point.. we started with 100k and ended up at 15 million at one time.. but it was over the course of Many Many years.. and super strong financials and income.We started with HML and private money.. although to be fair I owned the Hard money company  LOL.

While large companies like us are fairly visible to investors in the market we make up less than 5% of all investment transactions that take place.  

That doesn't seem fair.