Investor funds are used for the total acquisition cost of the property. This includes but is not limited to the actual purchase price of the property, acquisition fees, legal and transaction costs, capital projects, and reserves. We set aside 6-12 months of expense reserves as part of our conservative underwriting process. We also typically raise the capital to cover our improvement projects so that we’re not taking unnecessary risk to complete the intended value-add. Capital preservation comes first. We want to maximize our return while minimizing our risk to capital.