But it is an obligation that you should include on any financial statements to create a clear picture of what your financial obligations are.If you deal with a commercial lender at a small/regional bank, (which I would recommend you do) you will have to provide periodic (usually quarterly) financial statements.

If you are looking for flips, you will really want to sharpen your numbers and get some hyperlocal data to the house, within a quarter of a mile if possible. 

Then we will do quarterly/semi annual maintenance ourselves such as air filters etc, and try to coincide with being down in the Springs for either other property visits or going down anyways.We have been fortunate to have wonderful tenants so far, so that also helps a lot!

Smart guys.For my own journal, and maybe for others, here is a little of what I learned on syndication:Your track record, reputation, and communication with investors the initial, and ongoing, factors that can make or break you as a sponsor  - emotionally and financially.For RE crowdfunding sites (PeerStreet, RealtyShares, etc) can get you fund (or so they say) with investments of 500k-3mm.Preferred Returns and Profit ReturnsPreferred returns occur on a monthly, quarterly, or annual basis and are based on a %.

This means it does not apply to the living quarters within the vast majority of rental properties discussed in the BP forums. 

@Clay Lingg @Chris K. 

Originally posted by @Clay Chandler:Don't crush me to hard I am still trying to figure out the path that I want to take for financial freedom.

well said @Clay Manship

@Clay Winder, if you've got 15 rentals already, are you saying that ALL of them are already paid off?

Quote from @Clay Turner: I've got a property under contract and had my buyers financing fall through due to it being an assignment contract.