Augustine standard where most in fill lots are around 50' x 100' to 125', 200' deep dryland is a good lot.

This outlines things like guest/ overnight guest policy, cleanliness standards, roomie/tenant vs roomie/ landlord responsibilities...

You should also be aware to make sure what was provided does or does not meet industry standards.

I noticed your double standard in your reply as you don't mention the thing that is "eerily similar to what we've heard...". 

For purposes of this Regulation, “apartment building” meansand “apartment house” as defined in LVMC 19.18.020.Effective December 5, 2018, a short-term residential rental may be allowed to operate as a conditional use,provided it meets the following standards:1.

------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Hey everyone, me again, I am practicing underwriting MF deals and came up with a few questions (I am sure there will be more). 

Look, I think of it this simple, I don't know a single established millionaire who does the "standard" consumer debt thing.

This is an extremely unusual practice, never seen this in 15 years of my investing career.