Obviously I live in the Bay Area so it's a very environmentally conscious community, but can you provide any insight?

@Ian Ray,I suggest you consider embracing short term rentals as a component of your multifamily business model.

Limiting (some) factors of your land that you must understand:-Zoning-Deed Restrictions-Utilities availability-Site issues-Environmental study

I would like an inspection contingency (Radon/Pest/environmental/engineer/furnace), I would also like them to do surveys and stakeouts within 5 days, a $1.00 Earnest money, a 45 day attorney approval, a 60 day partner approval and an assignment contingency.

Also, one of the most often overlooked components of a syndication is the reporting.

I would look at the components that may need rehab: Roof, furnace, hot water tank, refinish floors, kitchen, baths, landscaping, new carpet, windows, paint, cleanup, dumpsters, etc. etc.If the furnace, roof, and windows are in good shape, your estimate may be ok.

At first glance it looks like I'll be making about $7,080 from the wholesale proceeds as his purchase price of $28,080 less my contract price with the Wells Fargo Bank is $21,000; unfortunately it will be a little less as I'll be doing a double closing on the deal.The cost of doing a double close for consists of two components, the admin fee and the use of funds fee.

This to me is the key component I am currently missing in order to be successful.

The trade up model is basically buying properties under market value that have a value add component.

@Will Fraser I really like their improvements in the Zillow rental manager app, especially their messaging component.