The recommended set back for building is 15’.

Here's a deal analyzer template that I use.Even then, I recommend making sure whatever property you buy can also cash-flow as a long-term rental in case things don't work out.Cash flow verification is a good tip, that would be my back up strategy.

We manage 320 units currently, and to date, I have received zero dollars back from tenants we have sent to collections.

The idea is to collect all the docs before appraisal comes back, because once it comes back if all docs are collected, it's straight to final UW review.

How and when might you want to step back or sell?

May consider a PM again but I get the message from PMs here that you should completely back off when you hire a PM.   

A while back I heard a news story about an apartment complex in a neighboring city getting condemned by the city for a bug problem!

In all, we were able to do a cash-out refinance after 1 year and got our entire investment, including down payment, back into our personal accounts and we still have a cash flowing property.The beauty of smaller town and communities is that often big-time investors are not looking at them as closely and they can cash flow quite well, at the sacrifice of "natural" appreciation.

Hey Alex,Why are you putting such a large amount of money down when your intent is to just take it back out?

It is about making it easy for a motivated seller to find YOU when they become motivated.Everyone just gets lost in the rabbit hole of DMM cold calling and all that jazz.If everyone just stopped, take a few steps back and for Pete's sake THINK, the answers are right in front of you.How many of you newbie wholesalers want to be a wholesaler and the first thing they do is drive for dollars, do door knocking, cold calling SMS, bandit signs, buy lists etc. etc.Have you established ANY credibility yet?