@Anthony Benjamin, make sure you get the correct valuation.

I can't talk much for the other Cities, as I don't know them, but I live in GR  where the current average home price is just going over the $200k mark.

Assuming that my ARV is correct and I'm not terribly confident it is as we're total newbies, I think that we might be able to get right around the $200k mark with some sweat equity in projects that we can do, modest kitchen upgrades (counter tops, backsplash, possibly replacing some cabinet hardware), and modest bathroom upgrades (tiling the floors, replacing the sinks and vanities).

Mark Russell This is a good question that I'm also interested in too.

Originally posted by @Anthony Gayden:Jon S.

Would we get ranked lower, or receive a 'bad mark' somehow?"

Lease renewal time can add a bit more work and drama to the equation too.By the way, we have several tenants who've past the 20 year mark, others who have passed the 15 year mark, and others who have passed the 10 year mark.

@Mark Weinmann I don't know why you would pay to improve a property that you don't own, unless he grants you an easement for tenants to park there.  

@ Anthony Dooley  Quit getting him into a personal debt exposure.  

@Mark Robertson makes a really good point in making sure the syndicate has real skin in the game, and that it is not from GP funds.