For me this involves being able to identify the seller's interests and establishing legitimacy.

To establish rent on a multifamily what would be the best way to do it?

So if your targeting remodels as development then you have better chances as the commercial aspect is already established and, in most cases, adding residential and the draw for ppl to live there is a much easier sell then if the situation was reversed.

Risks that I see are rent control (already in some places), lessoning housing regulations (there is a proposed regulation that would let any SFR be converted to a duplex, there is already ADU rules that allow an ADU to be added to most SFR, and parking requirements are constantly being reduced to allow more affordable building options), possibly at top of market (which if past history is an indicator even if Bay area is at top of market a new high will be established in no more than 8 years), potentially any number of other potential Landlord unfriendly regulations (no STRs, disallow criminal checks, rent control (already discussed), longer more onerous eviction procedures (already can take a while in some cases), mandating acceptance of Section 8 (already true in some areas), etc.).You evaluate the return versus the risks and determine if the investment appears sound. 

If it's established and there are other businesses in the area, the value of the property will be determined by the income approach. 

Some places do use new purchase prices in “updating” taxable values but most places use “market value” to establish taxable value based on comps. 

I would also suggest establishing your network and "Mastermind" group.

We love working with new but dependable capital raisers to help them establish a track record. 

I work full-time and will be pursuing my OH real estate license soon.My short term goals are to get out there and network with the pros, establish mutually beneficial relationships, and take action. 

Hey BP community- I’m starting out in the business and some established investors I’ve spoken with say that using the famous BRRRR method now is almost impossible considering that most ‘deals’ are found off market and or ‘don’t exist at all’.