And given #3 above, it leaves about 20% of rent for all other expenses like property tax, insurance and other PM expenses like leasing fee, eviction fee and other minor expenses like for e.g landscaping, pest control etc.

Now it's an out of control machine with a lot of financial incestuous relationship in the tupperware farm.I like your analogy.

He is knowledgeable but he has no control over the GP.

There is always a transition period where selling owner stays on and over time new owner transitions into full control.

There are controllers on each end for 1-player or 2-player games, then a second set of controls on the side for head-to-head games like Street Fighter.We have a cheat-sheet with instructions under the glass, and we have a book with laminated pages that lists the instructions and the games.

California is the only state that has essentially put a rent control type of restriction on home owner insurance premiums.

Just like going to an auction where lots of people are bidding and there is a frenzied atmosphere... and you want to be a part of the action...you bid too, is not a good (controlled) way to spend your money.  

You are controlling significant assets with little money and using the revenue they generate to pay for them. 

(Feels that way to me) I've been really using Cl / BP and others to post ads to generate traffic to my siteTY in advance, all are welcome to respond.P.S.

Most owners who do it want to keep the option of having the building vacant when they eventually sell the place since vacant places sell much more easily then tenant-occupied ones if it's a rent controlled building.