Seems this is the case for many/most foreign markets. 

What’s a realistic IRR to expect on a long term rental in the current market?

Build the secondary units and legalize them, then refinance with them in place.

I was wondering if anyone have experience with the Rotonda market and if I'm doing anything wrong.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

With a private loan, your partner can earn a 10% interest rate on the loan amount, providing a steady return without the complexities and risks associated with property management or market fluctuations.

You're talking about Market Analysis. 

Looking back on them, they are mostly all geared towards using OPM and how to market for notes and a very high level of getting into notes.

Hi Mitul, I receive several off-market multifamily deals weekly, primarily around the Chicago area.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.