I was also surprised how much of my own capital starting out you need between closing costs and floating the repairs until you get the work done and get the money back from hard money lender. 

• Any surprises regarding membership eligibility, membership application, or underwriting hurdles? 

That way, we avoid surprises down the line.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Emphasize that it’s a deferral (recapture comes later), but often by then you’re doing a 1031, refinancing, or they’ve rolled into a new deal.Offsetting K-1 Surprises: Depreciation helps smooth out years where operations are tight.

I was surprised too, but someone on our team just got 2 solid applications through NextDoor, so we're adding that to our list of sites to post to now!

The numbers only make sense if you can get it low enough that even with surprises you are still safe.

That’ll save you surprises later. 3.

I did this and I found out that there is a surprising amount of people in my life that invest.

No obvious structural issues from the listing, but the age suggests surprises are likely.Rehab Budget: • Low estimate = $50K (light updates) • More realistic = $75K (new kitchens/baths, flooring, paint, code updates) • High end = $100K+ if major systems need replacingRents (CMA comps): • 1BRs: ~$1,400–$1,750 each (https://prnt.sc/RMm854WPuPdk) • Stabilized Gross Rent: ~$4,200–$5,250/mo (~$50K–$63K/yr)Cap Rate: ~9% if rehab stays in the $50K–$75K range, falls closer to 7–8% if it pushes past $125KConstraints:FHA 203k requires me to live in one unit for 12 months, so only 2 units would generate rent in Year 1.With 2 units rented, cash flow looks negative (~–$600 to –$900/mo).With all 3 units rented after Year 1, cash flow flips positive (+$600–$800/mo) and grows with rent increases.My Question:For anyone who’s done a 203k or similar triplex rehab — does ~$75K sound realistic for getting this building into clean, rentable condition (floors, paint, kitchens, baths, basic systems)?