Once you know these numbers, you can easily figure out your return.

Hi everyone! New member and first time poster here! I recently bought my 1st SFH, rented it out and have jumped right into looking at a multi family 4-plex. I am in a relatively small-mid sized area in central Illinoi...

Do you have easily accessible capital or partners that would allow you to invest in more properties without selling? 

So that's encouragement for the future.As an evaluation of your chosen course of action. 

I think this is what @Michael Plante is saying If you go to an onsite auction talk to some of the bidders and ask how they evaluated the property and why they bid what the did.

I was going to state something similar in that the contractor can very easily add costs of materials into a job above and beyond the actual and it’s not easy to see it if you are not super experienced.That said, this is your brother and I applaud your efforts to bring him in.

I think the caliber of people you get coming out to Big Bear is going to be different because it is an easily accessible location for people in inland empire, LA, OC, SD etc.

How do people here evaluate a syndicate? 

I love the concept of having one master Landlord key for all my front doors, while the tenants all have unique keys for each unit that can be easily rekeyed at turnover.Here's the only problem I'm running into - copies of my master/landlord key don't work.

Add in larger loan sizes which means legal fees are a smaller percentage of loan amount or property value, and more easily recoverable by eventual sale of the property.