Not sure how this would be able to be evaluated except the section of a PPM that looks at hypothetical investment.Rent Increase Assumption: this will be effected when putting off value add plays, maybe look at 0-1% now as opposed to 2-3%.Renovation per unit: was looking at 3-8 K per unit, maybe now looking at more like 3-5K per unit.Break Even Occupancy: was looking at 65-70%, now prefer to see closer to 50-60%Reversion Cap Rate: Previous was looking at 0.5-1.0 over initial, now looking more at 1.0-1.5xLoan to Value: Prior Criteria was <65-75%; now lloking more for 60-65%. 

I have a fairly long term tenant playing this same game and my hunch is that when push comes to shove they will get caught up. 

Then she'll have to play by the rules and if she doesn't you can evict.

pick a coc that works for you, I shot for the highest I can, but i am playing the long game.

Maybe play dumb a little "I don't know if I'm in the right place..."

If you are going to play with the 70% rule I promise you you will either lose every single bid if you are competing with me or people lik eme that figure out the sweet spot per deal, OR, you will overpay because the 70% rule doesn't account for a LOT of things that you really should be accounting for.Dude look, don't ...why are you turning your business into a generic package?

If you have proof of that, keep it, but keep that as a card to play at a later date.

I am shocked if you had an Someone who specializes in security laws review that and say that this is ok to solicit non-accredited investors to pool money and play a passive role.

In my opinion, the ends of the market may suffer, but that's not where I play anyway.

@Fan Bi“Back of the envelope” numbers don’t play well in Central Maine in my experience.