How are you balancing the slim cash flow with appreciation?

You may be right but based upon how far underwater these properties are, the fact that they’ve already diluted shares with pref equity (and blown through way more than projected) the likelihood of returning any LP equity is slim to none even with another Capital call.  

Multi-family market here is slim as a number of odd SF Homes converted to Multi-family. 

If reserves are slim I would put the 5% down and keep the rest saved. 

Even when I got someone’s cell phone timely communication was slim.

But your margin between rent income and expenses might be slim depending on the neighborhood.If your goal is to scale back your job in a few years, you might want to explore out-of-state markets where properties cash flow more predictably.

That is a huge risk if you are bidding top dollar with slim margins. 

Unfortunately NPLs are slim pickings these days. 

If you don't do that in time or are way down on the list, the likelihood of receiving any capital back is slim to none...Here are the key takeaways here that appear to be the most concerning. 

You’re not alone seeing slim or negative cash flow on $200K-300K rentals, especially on-market at today’s rates.