Technically that is true, but a good agent sets alerts for short sales and REOs that come back on the market (when they are most ripe) after a failed deal.3.

I have set my eyes on starting my career in Los Angeles, but I haven't fully committed for fear that the potential of a newbie getting washed out in a market as big and as fast-paced as LA.

Here is a link to the NCGS chapter on D-T Any NC real estate attorney can help with setting up a private party (non-bank) loan.

Instead of paying off the loan in 5 years, set a goal to pay it off in 2.5 years.   

There were also some small set backs.

The NPV is the Net Present Value of an income stream, discounted to the cost of capital (or required rate of return) and the IRR sets the NPV function = 0 to get a rate of return.

There are ways to set up your relationships with the subcontractors that make it less likely that they will be deemed to be employees.  

So good, that he has another business that helps PM's around the country set up their businesses.

Figure 25% down (on small multi), closing costs, and setting aside reserves.  

I'm curious if anyone has ever set something like this up with a group of friends or like minded people and how it worked for you.