Fair return is calculated to determine if the owneris maintaining the net operating income produced by theproperty in a base year, subject to CPI-related adjustments.https://www.readkong.com/page/guide-to-oakland-rental-housin...2021 - GUIDE TO OAKLAND RENTALHOUSING LAW

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Our insurance did not cover moving the tenants out along with their temporary housing.

Avon, CT is a hot market, with multiple offers being received the weekend of the open house, which is scheduled one week after listing.My offer of $725,000 was $20,000 lower than the highest bid, but was accepted without counter because it was not contingent on financing, while the highest offer at $745,000, while the buyer had pre approval financing, was subject to financing.

But why do you want to buy multiple homes in the same year if that would be stretching your resources and subjecting you to more cap ex?

We normally make them sign a lease, so everyone knows what is expected and covers both parties for liabilities.

Rents tend to rise over time, amortization steadily increases equity, incomes rise, so the investor has a lot of “cover” for unfortunate timing or operating “mistakes”.Number 2 - periods like 1932 - 1941 and 2008 - 2013 are much harder on this strategy.  

Does anybody have any advice on this subject, anything I should watch out for, is a lawyer necessary, does everyone have to sign the deed, or is it a straightforward process I can do myself?

The rent doesn't cover our mortgage completely, but covers a good 2/3rds!

When you have several rentals the other performing rentals cover everything and you don't feel the stress from the one nonperforming rental.