2) How often do you do pest control treatments?

What systems are in place to ensure all sub contracts are being paid and no mechanics liens are being filed?

These types of places typically don't use alot of technology or have great systems, making it easy from a management perspective to turn things around. 

You lose control of the property.

I know there is all this talk about the Olympics coming but on a practical basis that has no effect on you unless you do STR, which you typically can't in a rent controlled property.3.

One of the ones we did, the cabin had an upside down garbage can dug into the yard for a septic system.   

As you grow bigger you will build systems that will eventually save you quite a bit of cash. 

., constructive receipt doctrine, effective control over nominal 3rd party relationships, lack of genuine risk bearing and compliance with transactional terms, etc.).

If the answer to both added questions would be "yes", then you have a potential goldmine here.Combining the seller's concerns, and the reality of a big down payment being a negative to the seller (see Q: 1), you should be able to set the terms, with a lower DP, and controlled interest rate, to have this property CF and,...be able to sell the package to another REI down the road,...as long as you buy this using an LLC (a new one). 

Many of them struggle to relinquish control and delegate tasks to specialists who are better suited for those specific jobs.