.- Management Fees: 2% of gross rental income annually.- Acquisition Fee: 2% of the purchase price.- Disposition Fee: 1% of the sale price.Option 2: Debt Financing with Equity Upside- Target Properties: Single-family homes, multifamily properties, and land for development in prime locations.- Interest Rate: 6% interest only for a term of 5 to 10 years- Prepayment Penalty: 2% if the loan is paid within the first 3 years- Equity Upside: Investor receives 30% equity of the appreciationWhich option do you think is more attractive and why?

IRR is a term used by people selling an investment to others.

In terms of getting into apartment complexes and large transactions - it's much easier than you think.Real estate is filled with opportunities to deploy capital, but in the same time is filled with fast-talking snake oil men that will happily take your money towards a "fund" so you own a portion of a large portfolio... only to find out the fund's performance is below par, your money is locked out, and the only person making money is the fund manager from the management fee they've locked you into. 

The biggest reward of owning and managing vacation rentals is much greater than financial; the friendships I have made with people around the country are priceless.  

I would love to connect with people in Northern New Jersey that are utilizing the Medium Term Rental strategy locally; specifically furnished rooms that are being rented. 

What portion of the deal did those managing funds get wrong? 

I have also seen people show interest in condos and then realizes the fees/headache associated. 

Pomona's population is about 150,000 people (source Google).

Lot's of people use the term UpState, and since I've got my BP alerts set up... it isn't solely used by New York Upstaters... apparently lots of different states like to throw around 'upstate'  Anyway, I digress.  

Even the people you think would never lie or walk away from their responsibilities still do from time to time.