Target ReturnsWhile target returns are crucial, these should be discussed only with investors—not brokers or others helping you find deals.Sample Investment CriteriaHere’s an example of well-defined CCC:Location: Primary and secondary cities in the Southeast with population growth.Type & Class: Class C garden-style or walk-up workforce housing with repositioning opportunities.Age: 1980s construction or newer (case-by-case for older).Price: $5M–$12M, requiring $1.5M–$3M in funds.Size: 100+ units.Cap Rates: Market rates.Roof Type: Pitched roofs preferred.Value-Add: Opportunities for improvements or better management.Why This MattersBy creating crystal clear criteria, you:Avoid wasting time on deals that don’t align with your goals.Build trust with brokers and partners by demonstrating a focused investment strategy.Increase your chances of finding deals that meet your financial and operational objectives.I'll be posting each chapter as I go through them so you can follow along from my notes and we can discuss different strategies.

Virginia passed legislation last year (I was not involved) that defined it as a real estate brokerage activity, thus nessceitating a license to wholesale.  

While algorithms can analyze data at scale, real estate isn’t just about numbers—it’s about nuances and the most important component of real estate is understanding its value, and that to me (maybe I am old school) but can only be done by physically visiting and walking the property.So for me, factors like local market conditions, property inspections, and borrower credibility can’t be fully captured in a formula.

The IRS defines a “quality” cost segregation study as “a study that is both accurate and well documented with regard to” 1) the classification of property into classes, 2) Explanation of rationale for the classification of the property and 3) substantiation of the cost basis of each asset and reconciliation of the total allocated costs to total actual costs.

You've done a terrific job of detailing the components of each program.

The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the 2025 bonus depreciation rate at 40%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.

Simplify the structure as much as possible, have clear roles and responsibilities that are not overlapping (meaning only one person is allowed to make certain decisions) and a clearly defined exit plan.

ASSET BASED LENDINGNote: Hard money is defined as average loan size under $2M, average loan hold duration under 2 years, and not a bank. 

There are a lot of regs, but at least they are well defined.

I was curious how those of you that work with partners clearly define the roles and benefits within your entity.