Some of those complaints have merit and there are clearly bad actors in the space, but many of these situations involve projects that are simply delayed or underperforming, not fraudulent or mismanaged.This all converges on a simple point: it is critical to vet potential LPs before taking their money.

On a value-add with rehab involved, that proof usually means you've closed at least one deal and managed the execution successfully.The trap is thinking "well, if I can find the right deal, the lender will work with me anyway."

Be sure to track your involvement to meet the IRS requirements for material participation.I’ve sent you a DM with some helpful resources, which will help as you move forward.

Each has their own skills and talents which should be exploited and understood by all parties.My suggestion would be to find an Architect that is involved with rental RE, maybe even an investor too. 

As a licensed professional, you have to check with your broker first as not many managing brokers will want their agents to be involved in any legally risky transactions. 

I know my target range of $80K–$125K can make it harder to find the right balance between quality and affordability, especially on multi-family deals, but I’m keeping my eyes open for turnkey or lighter rehab opportunities in markets like Memphis, Kansas City, Indianapolis, and parts of Ohio or Michigan — as well as areas near military bases, since those tend to have more stable rental demand.I really appreciate you pointing out the importance of keeping that rehab window tight — it’s easy to underestimate how quickly costs and timelines can get out of control.

Feel free to message me, I can give you a better idea of the expenses involved, in NYC the soft cost can be overwhelming. 

I want those of us involved to sleep well at night.

Continue your involvement with the community and when the time is right reach out to an investor friendly agent and lender to start reducing the right markets and properties.Good luck!

But the ones I've been involved with use SDE (Seller Discretionary Earnings) rather than just EBITDA for cash flow portion of the sum of the parts valuation analysis.As for market comps, LoopNet is fine, but I use Crexi and others on here probably use Argus, but those 2 generally require a subscription for the better data.