If you only have 30k liquid total for downpayment, closing costs, etc., you might be cutting it way too close to really do anything. 15k is the bare minimum I suggest for reserves or oh no money on any project so that doesn't leave you a ton left to work with.As @Glenn Banks said, 203k is probably your best option because it's an FHA loan and you can do low money down and the reno is baked in, but the reno is complicated.

Personal liquidity and some "dry powder"2,500,000 - Quicker Return Investments.

If yes then invest it, if not maybe consider using it as down paymentDownside of down payment is it will be less liquid so also understanding your overall financial picture should be considered

And, I just don't buy that GPs will liquidate the deal to finance their personal problems - if that's the case, then I invested with a GP who was irresponsible to risk their family's financial future on a single deal.

Anyone interested in sharing notes, deals, connections, learnings I’d be more than happy to meetup virtually or personally.CheersRod happy to connect on miami. what's your liquidity? 

Anyone who quit their W2 for REI had the ability to probably withstand and succeed from 2 real estate cycles to where their paper net worth is huge but their liquidity is still tight and getting tighter with increases in everything price wise.

But it has requirements that go with it.On a $300,000 property, that 3.5% down would be $10,500 plus about $3,500 in closing costs that you have to have liquid (available) in order to close.

@Matt HendersonRally it’s whatever you want - if it’s low dollar then I would recommend dumping into the stock market or an account that get a you 5% +If you keep it liquid then you can pull it out later for another assetWe typically reinvest it in varying asset classes to keep our portfolio as diverse as possible

Normally, PMA's provide that the PM is entitled to damages for early termination, such as, the fees the PM would have earned for the remaining term or perhaps liquidated damages.

Lots of headwinds facing real estate, like the following: Inflation Consumer Debt Lack of consumer liquidity-- renters don’t have first and last month’s rent, let alone a down payment to buyOwners interest-rate lockedOversupply of class A multifamilyStagnation of rent growth on assets aggressively underwritten at acquisition Maturation of term debt combined with stagnant rent growth against a backdrop of rising debt rates =investors unable to meet basic debt coverage service ratios on refinance Market normalization forcing operators and investors to rely on market fundamentals (recently) forsaken, while prioritizing expediency of deploying capitalInstitutional and local investors are both frozen by volatility and cost of capital and debtAll that being said, we feel good about B and C class assets we focus on and the markets we are in. let's connect soon