Oh memories of my early days. 

-Does their memory of his fees and process match up with what he has told you?

Failure to memorialize the contract in writing does not remove any of your obligations to the tenant, however, absent a written agreement the "rules" of your lease will default to state law.

I agree with the poster that said you can’t get involved in things or it will burn you out, but Thant doesn’t mean you can’t show some sympathy or offer help.The woman has been seriously ill and lost her job in the last year and had two kids murdered. she hasnt ask for a thing, so shes not scamming you, they have been long term tenants who paid off the mortgage in a year, so you have no mortgage but are still guaranteed most of the rent.It could do wonders for her (and you) to send her a compliance card and flowers or a ham or something, and let her know if she wants to move to someplace she would feel safer or has no bad memories you would be willing to work with her caseworker to find something else.

It seems like the highest they've been in recent memory is 8.5-9% back in early 2000s, generally have been floating in the 7's, and in super hot markets have gotten into the 5's.If I'm attempting to forecast my apartment building's value at sale in few years (3/5/10yrs), can I be reasonably confident that the cap rate will remain within +/- 1.0% in my local area?

And then again 3 more times, like if his memory of me was wiped from his brain.  

Let me know if either of those two are booked and I can dredge my memory banks for some other good folks!

No matter how blank your mind may feel, somewhere in the recesses of your memory you can pull out the last three words of what someone just said.

I want to work with partners who understand the value of a contract projects everyone involved and serves as the safety net when our memories fail us.

Here is a diagram I made to help navigate some of the questions related to LLC and asset protection.