We specialize in owning and operating (we are vertically integrated and manage our own properties) multifamily in markets that have good job growth and good population grown but are underserved and fly below the radar.After underwriting many deals in the North Carolina markets for almost 18 months we found an off-market deal that met our stringent underwriting criteria.

It would more or less just be more money down or something in a reserves account/invested in a something with a high dividend yield (that’s more up his alley than mine).5.

However they had to have the laws changed in order to operate, which only happened because of a specific set of circumstances involving a huge flood and the owner being friendly with the mayor.

If your STR no longer qualifies as an STR and is now operated as an MTR/LTR - I'd say no problem.

It would be good to understand what other think is a good net operating profit, cap rate, and ROI in today's world which I'm sure can vary by market. 

Mine are all paid for and in LLC's.I would say honesty is the best policy.

You need to let the tenant know this and that an eviction can affect their standing with the housing program.Since you did not know this basic thing, I would really recommend getting a property manager and watching how they manage until you have a better sense of how to operate.

I operate in a few markets and two of them are Philadelphia, PA and Reston, VA.

Properties that are operated by a management company are also out.

I hear people having rental properties older than mine like 1900 still cash flowing and happy.