You can't use the average rent as gospel, but here in Richmond it is nice to see where the recent comps are on the map since neighborhoods change drastically from block to block in some areas.

Sometimes it is important to get your building blocks set up. 

I’m joining BP because after listening to a majority of the podcasts and reading a few of the books recommended by the guests on the podcasts, I realized I’m missing out on surrounding myself with individuals in the real estate community and the wide array of knowledge BP provides.

As @David Semer said, the community is such a great source from the webinars, blogs, and podcasts to every BP individual and their help.

It is Cement Block Constructed and was used is light industrial.  

You need to analyze each property individually, then determine if the package deal price is actually a good price.   

Proposed deal:$15k down$135k purchase price$15k loan payoff feeOwner financing 1-yr balloon with 20-year amortization at 5.5%Our PM charges us 8% of gross rent as a monthly fee.The problem that I'm struggling with is that the units are not individually metered, and the rent includes all utilities.  

They want the deal (there first lean position) to protect there money and not the individual..

I'll be looking at my first house in person Monday on the 2000 block of Titan st.

I've looked into what would be required and come up short.Since I don't know all the individuals involved, and they're not accredited investors, I've read I would have to file with the SEC if I wanted to lead this LP.