Wayne Brooks I agree that this landlord made a bad choice in choosing tenants.

I have also seen these percentages applied to highly desirable areas (NW, NC, Far North, & Historic Areas) as well to higher priced flip properties with larger potential net profit.  

The National Association of Residential Property Managers.Here is a list of questions to help you narrow down your choices.  

Consider many options before making your final choice. 

Originally posted by @Stephen Anthony:On larger apartment deals, we see 10/30 term and am structure. 

They take care of everything, and since they are a larger PM, they have access to contractors and repair people that you wouldn't.  

I thought there was a seasoning requirement of 6 to 12 months.In other words, be able to refinance cash out (since it was purchased in cash) 6-12 months after purchasing.And fyi I think you picked the best choice... going with 70% LTV so you have more cash on hand to continue investing.

What you are describing are really three choices. 1& 2 are both passive investments. 

Success is a process, failure is a choice

For larger projects with capital needs in excess of $1M the way to raise money probably won't change materially until the accredited investor revision is revised.