@Chris Rich Good point.

What was the exit strategy offered or communicated by the GP?

. - 6% cap rate reflects a nice safe part of Los Angeles, California, a prudent investment, not one that will make anyone rich overnight, but a place that higher net worth individuals park wealth to preserve it (imagine the depreciation write-off). 6% cap rate also tells us, right off the bat, that we're going to be in the ballpark of 60% LTV.- We will stipulate that this is hypothetical. 

A lot of people prefer "simple" agreements, but truth is, there is a lot of moving parts in the property management business, and the PMA should take this into account. 9) Access for communication.

If they do not sign a new lease immediately, It would be a great idea to communicate with the tenants 30-60 days before the current lease expires and have them sign a new lease with the new terms. 

This can sometimes expedite the process and save you the hassle of legal proceedings.Lastly, remember that tenant situations like these can be delicate, so handle communications professionally and document all interactions with both parties.

Need to be well located and be amenity rich - I assume this to be true in quite a few markets.

In areas other than Atlanta:Do they communicate when a service call is requested?

A wise investor will not try to get rich quick with shortcuts.

To maximize the number of transactions you’re involved in you will need to:Be Top of Mind when they think about moving - which requires consistent reminders.Be seen as an Expert – which requires a consistent message and Evidence of Success storiesGain their Trust – which requires communicating integritySo, start out by listing everyone you know in an Excel spreadsheet.