Yep, a recurring theme is that communication from the operators is essential -- especially during challenging times.

The property manager should be involved before you buy any property to give input on due diligence, how to increase income and reduce expenses, and to make repairs or improvements to maximize occupancy.Excellent property management is critical to your success before, during, and when planning to sell or refinance.To your success!

Your first challenge is - you shouldn't buy based upon zip code!

Often, traditional lenders offer better rates, which can significantly improve your profit margins.2.

Challenges?

She wants to put proceeds into a strategy that is not real estate, which obv presents challenges for tax mitigation.

What are your current goals or challenges in real estate?

The challenge for me will be to attempt to mirror this type of financing approach to Southern Calif. real estate. 

If you know how to make rates of return higher than that, I would say it is better to invest the money than pay down your mortgage early.If you don't know how to do that, then either pay down your mortgage or learn how to improve your investment returns.

The plan was to pay cash, refi out and use that to improve the property.