Make sure you’re approachable and responsive to tenant concerns to foster a good landlord-tenant relationship.Legal and Compliance Issues: Familiarize yourself with local landlord-tenant laws and ensure that you’re compliant with all regulations.

@Dave Foster can help you out.

Hey Alex, you need to be confident in the numbers that you come up with.

But I never acted because I didn't have the money, knowledge or confidence to pull the trigger. 

Oh and listen to @Dave Foster, he knows a lot and was my go-to guy for the 1031 exchange we did! 

If you really want an answer you can confidently rely on you'll need to engage an attorney practicing in the state the property is located in and the state of residence of your grandparents and have him research the specific facts of the case.  

I want to be able to have the confidence when structuring deals. would i be correct if i said that COC % and preferred returns are the the main things that the investor needs to know about how they will get there money back?

Build that confidence and faith in yourself.

Thanks @Dave Foster.

It can also help you inspire respect and trust from others by projecting confidence and professionalism.