Over the years I have built some relationships here and am looking to ask some of the members of the yacht club to invest with me.

We can only make educated guesses based on  historical norms.We are due for a recession at some point but its tough to forecast exactly when so why try?

phase 1 is usually 1k or so.... its a review of historic aerial Photos... site visit and quick check of public records and may include some talk to neighbors. this is meant to establish historic uses.. this study will tell you whether you need further studies..

And, you never know how your real estate will perform until after the fact, future numbers are a best guess, historical numbers are real.

So thank you @Brandon Turner @Ben Leybovich @Michael Blank and others for your great insight.I did what I was told and established a relationship with a commercial broker who in turn sent me an off market listing that I believe is a great value add property.This is a 8 unit MFR in an "A CLASS" neighborhood located in Bklyn NY within 2-10min walking distance to any and all amenities, (Barclay's Center, Malls, Shopping center, Banks, Restaurants, Museum, Parks etc.)All 8 units are 4 rooms (2bedrooms) including 1 duplex apt.....  5 units are rent stabilized and 3 units are free market including Duplex, all of which are receiving way less than market rents.Typical Market rents for 2 bedrooms in this area are 3k+/mth, also the typical vacancy rates for this area are @ 2%-3.5% (Bklyn market analysis). 

For example, if the deal is really weak you'll have to delete tiers and slide up the splits to deliver an attractive return.Your experience and investor relationships will also drive your decision on the structure.

there is a ton of questions to ask and hopefully create a great business relationship with many investors in the area.

He wants to sell of pieces of his portfolio over a couple years and I'm hoping to establish a relationship to be able to eventually buy his entire portfolio from him.

We have a meeting coming up Thursday, July 7, 7-8pm at 205 W Boutz Rd Building 2 in Las Cruces.Our guest speaker this month is Henry Apodaca with First American Bank and he's going to teach about the underwriting process and about investor relationships with traditional lenders (as per the request of group members).

For me it is about building a relationship with people to develop it, etc.