While you shouldn’t categorize all tenants and it’s the landlords responsibility to properly screen, the tenants who reside in better situated housing and pay higher rents are more financially responsible meaning lower rate of rent loss and will generally take better care of the property which combined will result in less time allocated towards management functions if self-performed or more favorable management fee structures if 3rd party management companies are utilized (which ties back to #1, as well).

We do self storage.  

Do you believe self-showings, where there is little to no human contact, (to build value in your unit or the PM company), until a tenant has paid an application fee, a race to the bottom on your rent rate?  

The other thing about VA assumptions is that the seller's (veteran) VA entitlement will remain encumbered unless the new borrower is also an eligible veteran with sufficient entitlement on their COE. 

Your property management should send you pretty clear reports at the end of the year so as to obviate your need for such.If you have more than 3 units and self manage I suggest software - especially if you are considering expanding.I find Stessa usefulI also use buildium but not incredibly thrilled with it.  

It’s been enlightening and has pushed me to work toward becoming the person my future self can be proud of.

If it doesn't cash flow, having the tenant in place doesn't do you much good, do you self manage?.

That being said, I'm part of an experienced Syndication Group who invests not only in Multifamily, but also different asset classes:  Self Storage, Mobile Home Park, RV Park, and Retail - all to diversify the investment offerings.Reach out, and the next time we have an LP capital raise, I will send you the OM (and obviously info on our company) to review.

Do I draft the contract price for higher than the actual build price that would include our estimated profit (sell price) or would a separate agreement between the lot owner be sufficient enough that outlines the deal since we don't know the actual sell price until it goes to market?

Yeah, insurance is likely more than sufficient for most investors.