Example: 8% preferred return to all investors (pro-rata), the profits are split 70/30 (Bob/Jim) until certain IRR or equity multiple is achieved (Could be 80/20 or 60/40 depending on risk, deal complexity, or value-add level). 

It definitely can get pretty complex trying to sort what qualifies for which category, especially if you have a mix of property types!

The complex is non warrantable because more than 50% of the complex is investor owned.

Investors aiming for stable, consistent returns with lower risk should lean toward LTR, while MTR offers flexibility but may come with more management complexity and vacancy risk in these markets.You can start here, here, or here, for some basics.Are you thinking about construction of such options, or more like acquisitions?

I do not understand "door disease" or "door syndrome": one hotel, resort, or apartment complex, is better than two hundred separate LTR's agree.

As you delve into these areas, consider reaching out to experienced investors or real estate professionals who can offer advice and mentorship, helping you navigate the complexities of the market.

Owner statements and financial reportingFinal thoughts:If you’re starting with a fourplex, it’s important to choose a platform that offers enough automation to save you time but doesn’t overwhelm you with unnecessary complexity or cost.

Once your portfolio starts moving beyond a couple of buy-and-holds into BRRRRs or more complex structures, taxes and compliance really do get trickier.

Condo Prices: Still Rising, but the Fever Has BrokenBetween September 1, 2024 and September 1, 2025, the median condo/villa price on Hilton Head Island ticked up roughly 5 – 8 %, depending on property class and location.Villas and condos that were around $500K–$520K last fall are now averaging closer to $545K–$560K.The high-end and beachfront properties (think Sea Pines, Palmetto Dunes, Shipyard) led that appreciation — some even saw double-digit jumps.Entry-level condos and older complexes have flattened or gained only 2–3 %.

Never had some complex title issues before.