@Dean HulsingOnce you understand the environment in which the business operates (local tenant population, average rents, physical and economic vacancy rates, the growth / decline of the local economy, the risk of the local economy (i.e. does most of the tenant population work for a single (cyclical, declining, growing) employer)), then you can compare the business (property) to its peers and evaluate its shortcomings and potential.After the above, you should be able to put a value on the business and, if it looks to be a profitable, long term venture, issue a Letter of Intent (LOI) with your offer and deal framework,  If accepted, you then dig-in and conduct the formal diligence.

For instance I pay my family very well for their small amount of time.  

Much Appreciated guys, I will continue to grow my knowledge of REI through networking with other investors as well as the use of the bigger pocket forums.

Second, we can continue to grow the PM business as an additional income stream.

This is probably why 200 in cash flow doesn't make sense when trying to grow my portfolio exponentially and why I'm leaning to bigger down payments. 

BP is a great place to learn, grow, and network.

For instance (this is for all you haters of FB and lovers of BP), I searched BP a year ago to get advice on the best way to structure an REI business in terms of taxes.

Both commercial and residential.I'm interested in learning, growing , and developing a contact list of professionals in the real estate business - if anyone has a CPA, accountant, or lawyer in the real estate industry that you really like - if love to get there contact info.Thanks for reading!

For instance, if a client comes to me and is asking for tax planning advice, can I not cite past TC Opinions in order to substantiate a particular strategy?

Hope to learn and grow and take action soon in starting my real estate investment .