It covers everything a new landlord needs to know, and so much you'd never consider until it happened to you, meaning you get a huge advantage of knowledge by reading it.Plus, it's a great one in todays investor environment, because Mike built huge wealth sticking to single family homes.

They're always a key member of your team, but even more so in environments like that.

I’d argue that in 20% interest environments, buying a 12% CAP rate would cause you to go bankrupt if you are using debt service in any way.

As a friendly environment for business' and manufactures' Madison county is expected to continue it's growth. 

But it’s basically an auction and auctions are terrible places to get good deals in this market environment- tons of enthusiastic buyers overbidding.

I hired an environment surveyor to do some of the due diligence you talked about --soil/perc test, drainage, utility, fire requirements, required setbacks, conceptual site plan, etc.For now, I am doing it by stages.

Some listing agents will list low to create a bidding environment some will list over market.

When you buy a property in Seattle, you also buy the regulatory environment.

But even in this environment, most markets will have listings that have sat for weeks or months or longer.

I haven't read all the responses, but think of cap rates like bond yields, and then recall that there are people that buy bonds with negative interest rates because they can lock in their losses.In that environment, a 4.5% cap rate is incredible.