The conversation about leverage shouldn't be brushed over.Positively leveraging an asset is much different than negatively leveraging that asset.Also, you need to factor in how much leverage you have with respect to how big your reserves are.Being 52 means you're half way home, I doesn't mean you're close to retirement.... or that you need to play it safe.

I know a drop-in sink with stone counters is not ideal, but it hardly seems worth it to pay $500 or more to buy and have installed a new sink (not to mention what additional faucet cutouts might cost), when the existing sink is perfectly fine and already has a practically new brushed nickel Delta faucet.

Not, the other one...the one you wash your hands, and brush your teeth in.4 - You will see a very familiar looking face.5 - That's the person you should ask this question. 

Without knowing anything about your house, I will tell you this: If I asked my PM a legitimate question and he replied with a brush off "LoL" as if I was some kind of idiot, I would fire the PM. 

If it's more static, spreadsheet makes more sense. 

Its none of the tenants business on how much you profit on them and will only breed resentment if you are making good $$ on the investment.Keep it vague...... market rent is X and my expenses on A/B/C go UP every year....not down.....so each year I keep rent static or drop it, my investment is going DOWN....and that's not a smart investment.

I think what I'm really trying to figure out is how to approach said developer in a way that they don't brush me off at first glance.

The good thing about these criteria is that they are mostly static as opposed to often changing.Population: Look for population to be steadily growing = increasing customers.Jobs: A stable job market = a stable tenant base.Supply: Too much product = increase in concessions / decrease in rental income to attract solid, long term tenants.Demand: Product type.

And as @Charles LeMaire put it, there will always be bumps, but if this is your end goal, then you solve the problem, brush off, and move forward. 

I’d also brush up on eviction procedures to prepare in case payment isn’t made.