Quote from @Joshua Nackenson: Quote from @Brock Mogensen: Generally debt and equity investors follow a similar legal structure..The biggest thing is whether you are doing a GP/LP structure (syndication) or if it's going to be more of a JV (where investors are signing on the debt/no GP upside).I'm referring to using OPM in the form of debt via multiple private lenders. ie on a deal that's not bankable, raising 500k from 5 different private individuals for example. there is no GP/LP Then you have a first position lien, as second position lien, a third position lien, a fourth position lien and a fifth position lien.The other option is to have everyone be members of the LLC but then they have voting rights and play a part/role in the asset and do you really want five cooks in the kitchen.Other than that then yes YOU are the GP and they are limited partners if everyones money is equal.

Would it be all right if I follow up with you maybe once or twice a quarter in case you run across anything?

We cover the cost of quarterly deep cleans.We cover basic preventative maintenance like changing furnace filters and smoke detector batteries.

There are those who think the only way to get ahead is to be predatory in every aspect of their dealings. if they can pinch the other guy for a quarter in a handshake they will, pitiful there are such folks, must be in their DNA......not saying the OP is at that extent but there absolutely are people like that in RE.

Pulte, from their last 10-K looking back on 2022 (highlight mine):However, the strength of new home demand rapidly declined starting in the second quarter of 2022 as the Federal Reserve increased benchmark interest rates in response to inflation, which, in turn, drove national mortgage and other interest rates higher, impacting home affordability and consumer sentiment.

An agent was able to obtain the previous 3 years of rentals and it was about half of what AirDNA projected excluding one property that was about three-quarters. 

I'm now actively looking for my fourth OOS deal, have aspirations to jump into multifamily, and have been doing a lot of research on syndications for both value-add and local development.

That's a quarter of a million dollars that they just cut the price in. 

I'm guessing that house prices will plateau by the end of this year when the Fed reconvenes and decides to increase the interest rate by a quarter point.

Welcome to real estate investing.Here are the four things you have to always remember.