http://www.latimes.com/politics/la-pol-sac-california-high-housing-prices-20160414-story.htmlThe California Association of Realtors has predicted a mass exodus out of the Bay Area this year, either to more affordable surrounding counties (Sacramento and the Central Valley) or out of California all together:http://la.curbed.com/2016/3/4/11161626/california-housing-costs-migrationBoomers who are sitting on a ton of equity realize they can move out of the Bay Area to retire to live like a king somewhere in the Midwest and purchase their house cash, and Millennials are entering their prime "settle down" years and think $650k for a 1950's tract home is a joke and they can't afford it even if they wanted it.But, they can move to Sacramento and buy a $350k remodeled home in a nice area with great school districts and raise their newborn children.

Now depending on the price of the lease hold you might be able to throw upgrades into the house and raise your rents but still cover your expenses and gain a good ROI so when those repairs pay themselves off you are now gaining more cashflow than before and when you go to sell the property you only need to do minor fixes if anything.There are also other benefits to buying leaseholds again depending on the contract.

Have you raised capital for the deal or are you funding it yourself?  

Maybe raise the rent every 3 months as a reminder of why leases are a good thing?

We are buying a single family home next, so we can have a bigger place to raise a family.

But it's not common to raise a lenders LTV simply based on it being a good deal.

The logic being it'll be difficult to raise rents or get them to move out.Also, I feel unsure whether I've accurately captured all the property's expenses.

My focus is buy and hold, but it seems like many hold investors wholesale to raise funds as well. 

One thing you are missing is that the Janet Yellen at the Fed is Raising Interest Rates.

I had never heard of an Avalanche, Roof Razor, or other “roof snow removal tools” until someone sent me an advertisement on Facebook this morning so I wanted to raise awareness.