For passive investors we typically include a preferred return 6-8% and IRR hurdles based on investor return. 

It is the amount you NEED, not the amount you have.It is advise like this and people getting inspired by this stuff is one of the biggest reasons why so many simply do not make it.You need to step up and use intelligence, not inspirational messages to get crap done!

Biggest advantages investing locally in my opinion are the financing and SoCal appreciation.

That's the biggest concern.

The biggest thing is no appreciation.

Coordinating subs is one of the top two or three biggest tasks that comprises the responsibility, and therefore the fee, of a GC.

There was an 82 unit apartment building finished last year that drove a lot of new faces into the town, and I would consider to be one of the biggest catalysts for change.

One of my biggest questions is what was you all’s experience with receiving/analyzing a deal with current tenants already residing in the units, but you know you want to do rehab and renovations?

With a good tenant I think the repairs would be the biggest concern.

I’d use the cash for a down payment on the biggest multi family units in the best area possible .