I used Brandon Turners The Quick and Dirty Way method on Analyzing a property.

Unless you know a licensed contractor extremely well, have supplies already or decide to explore alternative methods for getting it done, my guess is your renovation expenses will be well north of 40k. 

IF we were ever not able to DO the ongoing PM, the cost for that would come OUT of our half of the split.This second method seems like a real win-win.....

There are a lot of people who are successful with the BRRR method in the area.

I am curious if there are other developers that have other methods or historical price points for % of gross sales new construction MF units will run.Also we are building tiny units so this would account for more units vs traditional building size and square footage.

I have changed my methods of purchasing and owning real estate on a continual basis.

With no notice I’d hire grunts-r-us, shown them proof of ownership, and tell them to tear everything down.  

the property value is probably not going to go up but it seems it would always be rentable for at least $700 a month ($900 more likely) ORoption 2. get ANOTHER mortgage with a hard money loan and get a property that would increase in value over time. both methods will require rehab. both we want to buy and hold and rent out.I currently have 3 rental properties in the $150,000 - $250,000 range that all have been increasing in value and should continue to do so.option 1 would give us more diversified investment AND diversified experience. it seems like it would offer better cash flow but is also riskier 

There's both quantitative and qualitative methodical means of determining your individual asset allocation, which should really begin also with identifying your goals, constraints, and objectives.

This is not an issue with 506(c), the possibilities for investors are endless.506(b) only up to 35 non-accredited investors are permitted to invest and no limits on accredited investors. 506(c) only accredited investors that show they understand the investment may invest.506(b) accredited investors typically self-certify while 506(c) issuers rely on various methods to verify accredited status.Like everything else, the investment arena is always evolving.