I'm in the process of learning as much of the basics as possible before I dive in.

It’s a smoother way to learn the basics of managing a rental without the severe headaches of a full BRRRR right out of the gate.

Quote from @Frank Pyle: Yeah for small multifamily, ARV is basically stabilized NOI divided by a cap rate, but the cap rate is the whole game and it rarely comes from perfect 8 unit comps in the same few blocks.Most appraisers I see will triangulate it using any recent sales they can support, even if that means 4 to 6 units, 10 to 20 units, nearby neighborhoods, and older sales adjusted for market movement.

That is a basic tenet of project management and something many investors fail to appreciate. 

This is very basic knowledge, even among people who don’t invest in California.

I want to ask them basic questions like what experience they have managing rentals personally, how many doors their company manages, how long they have been in business, and what they feel their company’s strengths are.

Otherwise, I merely educated my clients in some fundamentals of taxation.So, if you don't know the basics, then any accountant will deliver "magic" results to you.

Hey Jonah,i use the most basic quickbooks subscription for 9doors.

Just make sure you understand the basics around that and your accountant is familiar with it.

I signed a very basic promissory note listing the property address, but I don't think it will protect me if something goes sideways.