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If the sponsor is willing to connect you, there is nothing that replaces a conversation with someone who has already built that trust with the sponsor over time.Also, be careful not to get blinded by just the projected returns.

There’s already a detached garage built in the back of the property too, so the is shouldn’t be much of an issue.In terms of comps, there are not any comps with a garage conversion, only with additional bed/bath.

There are a LOT of high rise condos bought for investment/income in the early 2000s that are underwater and they are still being built.

Many real estate fiefdoms have been built this way.Congrats for pursuing this and asking your questions!

It is built in 1952 and the inside looks good from pictures but just concerned I could end up with a problem.

They claim they are unaffordable, provide no cash flow, too tenant friendly, however true wealth is real estate is built through mortgage paydown, the tax benefits, and appreciation.

I'm confident the 4-units all around my area that were built in the early 1950s and all brick will be around $50K a door, so if I saw a 6-unit I would assume it's going to be roughly $300K without looking any further. 

Now I own 20 properties with low mortgage rates and where the properties have built a lot of equity and, most importantly, pass my "RENTAL STRESS" TEST.

My realtor has me sign this disclosure at closing, but we have trust built up.