We (developer and all of us as consultants) were sued over this PE three years later, which I mostly believe is because they realized they had no 'proof' of the PE beyond the fact that we had shot holes in their AP until they acquiesced to PE.

At the same time I find myself participating in other forums I used to ignore, like the taxes and short term rentals forums, because those have become bigger focus areas (and pain points!)

If it wasn’t the insurance it would have been the property taxes.

Account Closed I have had tremendous success using direct mail and mailing the owner of record where the tax bills get mailed to.Generally, property management companies don’t pay the real estate taxes so this gets me right to the owner.Targeting wise, I would just do a zip code filtered by unit count using a service like listsource.  

High taxes, a declining population, and an environment that is less than friendly to businesses are important factors to consider.

It's an estimated cash on cash return given current rental rates subtract expenses assuming 7% interest rate, 10% management fee, 5% repairs, 5% capex and other expenses like mortgage, insurance, tax. it's a estimate to tell you what properties to analyze vs ignoreyou can see the are pockets of negative returns as well as pockets of positive return. this is to supplement the data @Devin Conley provided

The biggest differences between residential and commercial:  Scalability, financing are very different, property taxes may be different, Insurance is definitely different. 

Is it tax smart? 

Is the option government supplied insurance where taxes supplement the insurance?  

He is very good about deductions on tax returns so his income looks negligible and of course banks wont talk to him about loans.