Every deal and sponsor are different but this is essentially how many sponsors operate - For the sake of simplicity, let's assume a sale has occurred and there are enough net proceeds to repay the LP investors equity in full + their annual preferred return and there is still $1,000,000 of cash available.

Her response was essentially, "I'll walk you through this every step of the way, but we'll do it through you as an agent so you get the commission, I just love this stuff and love helping people out who are just starting." 

____________________Hello Ellie,Essentially what it boils down to is this: Their current lease is effective until its expiration date.

Thanks for the input from the Realtors, @Mel Jones @Matthew Mazur @Aikane Belez,  I guess my response to the Realtors is that I'm unable to reconcile the situation knowing, all else essentially equal, the sale of this $2MM home is roughly the same amount of work (hours) and expertise as the $400k condo, yet the cost of the service is vastly different.

That essentially gives you 1.5 - 2 times rent predicted now.

Discover the essential tools needed to analyze property and how to apply them.THE INTERNAL RATE OF RETURN (IRR) TO AIM FORThe IRR should reflect the degree of risk you’re willing to take.

More or less what I’ve done is essentially carved out 1 hour of time for deep work every morning to focus on my one thing.

The plan you describe is the plan we are essentially pursuing out here in my corner of California. 

Instead, rather than panicking, we were able to quickly shift gears and cater our units to people who still needed a place to stay, such as essential workers and people in quarantine.

Following this, oil prices going through the floor in 2014 put a couple of extra years on the clock.