IRR is far superior in its ability to account for leverage and the motions you have to go through to calculate it force you to have a deeper understanding of how the the money flows through a property.However, the biggest problem with IRR when looking at Real Estate is that so much of the estimated return is based on your exit valuation, which depending on what sort of real estate you are involved in, can be absurdly difficult to calculate.The important thing isn't to decide which metric is better than others, it's the ability to separate out your revenue, expenses and cashflow to see where all money goes.  

There are three houses involved but I will share one just to see if I am accurate with my numbers.  

Finally, if use of 1031 exchange treatment is part of your plan, there are issues that arise when an LLC is involved which must be considered.  

PS unless there is a commission involved I will run credit and hold their hand thru the process.

If your not going to be very involved with the build, I agree you need a GC partner or pay a GC, which will add to your costs.

Just tell people what you are doing, and what your successes are, and they will start to ask how they can become involved. 

Some bring the cash to our front door, more have us come get it at their front door, and both involve texts back and forth to coordinate schedules.

It would be interesting to know some of the numbers involved like what is your current PITI, what could it rent for as is?

If you invest in, sell, or are involved in small multi family properties in Phoenix feel free to reach out and message me to see if we can maybe benefit each other from working together.Here are some of my parameters to help give an idea of what I'm looking for:2-4 unitsPhoenix and Scottsdale area (in/around the zip codes of 85014, 85016, 85008, 85251, 85254, old town scottsdale, camelback corridor, etc)Value add type deal that is either in a good area that needs a good rehab or something I can add onto maybe a duplex that has space on property to add another unit or two.Budget of up to 200kLooking forward to hopefully discussing this further with some of you!

What is your current involvement in RE?