The short answer is I look for 9% min and try to press it to 11% with those strategies along with rental increases once improvements are made and the tenants know you actually care about the property.

And most of us don't care what Pace Morby says.

There will be a massive wealth transfer from the baby boomers to retirement care or to a younger and smaller generation.  

I always say 'I don't care what cap rate I buy at, I care what cap rate I can turn it into'I built Market Analysis and Sales Comps tools for my local SoCal market that will let you analyze the current or terminal property & units, from wherever you get your deals from:Sales Comps & ARV estimate:Sales market analysis:Rental market analysis:Would love to discuss how to make your extension that much better!

If you decide to build new construction, be very careful with builder contracts out there. 

I don't charge security deposit or move in fee nor do I care about credit. 

I think you are best served to get the best advice and that is what will make your business work much better than the ones who don't care about the regulations.

Your tenants need to buck up and take care of the bugs.

What I am trying to say is be very very careful in the city and speak to attorneys ahead of time in regards to the process, cost and how long it will take. 

I was told they take care of everything when setting up LLC.