Zach, I would be more concerned with the market for larger apartments than the initial start-up cost.

For Tax purposes your best bet is to start an LLC and DO NOT elect any other status.

I got tickets to the conference because I'm betting that we will get out more than the $1500 we will spend on it!

The lesson here: when you're going outside of your comfort zone on a neighborhood, be conservative with your initial valuation, and don't overspend on the rehab when you don't have to.I'd be fine talking to the media about this.

I wouldn't bet on "busting the comps" or getting it to appraise...

Without taking the roof replacement cost into consideration, my initial calculation of cap rate is 8.3% and cash on cash is about 8.9% for this property.

Last, when meeting with home seller, how is the subject of "finding another buyer" initiated presented as they could do it themselves?

Borrowers should spend a little time getting some initial opinions on their project.

Sorry, I don't believe you -- I'd bet that you're either making up numbers or don't understand how your business is taxed.

However, even if they were taken by an OO buyer I still made offers on them anyway betting that some of them wouldn't close and FNMA would come back to me as a back up offer.