GC’s who have been around a long time are guys you can count on to build long term relationships with, they’re generally not the cheapest but they’ll get your projects done with the least amount of surprises/headaches.

We have had a pleasant and unexpected surprise of some appreciation over the past ten years in addition to rent increases to over $1k for good SFHs.

So, that part of your response surprised me.

The more properties we walk through, the better we get at spotting potential issues before they become surprises.

Also, any advice for avoiding those unexpected surprises (or at least making them less painful) would be super appreciated.

You can see plenty of examples in these threads, where every contribution revolves around this same promotional angle:https://www.biggerpockets.com/forums/927/topics/1195612-the-...https://www.biggerpockets.com/forums/311/topics/1136123-what...https://www.biggerpockets.com/forums/48/topics/1103837-which...https://www.biggerpockets.com/forums/62/topics/1156841-scam-...https://www.biggerpockets.com/forums/44/topics/1159791-what-...https://www.biggerpockets.com/forums/79/topics/1121289-has-a...https://www.biggerpockets.com/forums/44/topics/1159791-what-...https://www.biggerpockets.com/forums/79/topics/32290-jack-bo...https://www.biggerpockets.com/forums/12/topics/938096-land-f...Given this pattern and the sophisticated marketing approach, I wouldn’t be surprised if "William Ferr" might actually be Jonathan Halves himself, or someone closely tied to his business.

So, to no surprise, CA is doing exactly none of your private property taking schemes John. https://www.gov.ca.gov/2025/01/13/governor-newsom-proposes-b...CA is doing the only viable option they have, fast tracking reconstruction of what was.

Beyond that point, the returns aren’t just monetary—they’re legacy-driven.I find it surprising that some investors can’t see the value of this mission.

Surprisingly, you get a good mix of tenants.

Yes, but that's our whole business model, so it's not terribly surprising to us. :)You're in the right forum to learn about MTRs.