For those that might holler about liability protection:  we have kept them leveraged with cash-outs, have a substantial umbrella policy in place, and very simply we just make sure we keep the properties maintained and are good operators with happy residents.We are now transitioning into a more commercial space and plan to roll out that LLC structure.  

I am seeing lots of really decent investments, but having the capital through 1031's is taking time and the personal capital contributions are limited.What do I need:More time.More capital.A mastermind of folks operating at this level. 

(since you don't own the land or the business)2)  How actively involved are you with the day-to-day Business operations?

If you can hit 15% EGI on a *leveraged property that you self manage*, you will make money unless you are a terrible operator.

I dont know how the market operates where you are, but in all 4 states I do business in, the seller controls who gets access to the property and who doesnt.  

The home must be inspected before going online and operating.

Petersburg are technically illegal but they are still being operated successfully and a lot of the surrounding municipalities also have regulations against STR’s.

Are you running the ARV based on comps as a 4 unit OR are you determining the ARV based off of future NOI (operating income) and cap rate?

Do we need to replumb the entire operating building? 

With a 2% annual increase of rent and variable operating costs the actual "recovery" timeline would be 16 years, at a 3% increase it would be less than 14 years, etc.Also the principal pay down and property appreciation during that time period can be very valuable.