I think you're confusing market cap rates, with a static purchase priced compared to growing NOI.

I will brush up on these calculations so I can do them upside down, sideways, and any which way. 

I was actually thinking about falling rents recently, but kind of brushed it aside.  

Here is what we are doing...Re key home to make new tenant keysClean up and shape the landscaping and trim tree in rear of homeRepair exterior wood - Repaint all exterior siding and trim.Repair gate / fence leading into backyardReplace all kitchen cabinets with new cabinets - Paint white, then antiqueNew st steel stove, dishwasher, and vent a hoodNew countertops (kitchen)New wood laminate flooring in 2 living areas and hallway - 1st floorNew tile floor in downstairs bathroomNew vanity and sink in downstairs bathroomTile walls around tub to replace old tub surroundNew brushed nickel light fixtures and fans throughout the homeNew carpet and pad on stairs and upstairs hall and bedroomsNew tile floor in upstairs bathroomNew vanity and sink in upstairs bathroomTile walls around tub to replace old tub surround upstairs bathReplace old / damaged sheetrock where needed (mostly downstairs)Repaint all ceilings throughout homeRepaint all doors and trim throughout the homeRemove all wallpaper and paint all walls standard neutral colorsReplace all interior and exterior doorknobs and looks to new brushed nickel look to match lights and fansReplace all cabinet pulls and knobs with brushed nickel to match door knobs and lights/fansLicenced plumber to repair and service all plumbing fixtures / pipes to ensure no leaksLicensed HVAC technician coming to service and clean the heat and air to ensure it is working property."

They tend to have better bones and better quality construction...but I hate the bathrooms that comes in teal, pink, yellow, green, blue...I have nine bathrooms in various properties covering the entire rainbow color spectrum.I am seeking advice on two things.First, most of these bathroom have the integrated ceramic soap dishes, tooth brush holders. 

Work it in with an acid brush and rinse.  

Don't be so quick to paint all of CA with such a broad brush.  

But, CCR is very static.

Now if by taking action and asking questions makes me lazy and naive then I'm afraid your English skills need to be brushed up on.

This means that they have overextended their ability to compete and market into the wave.Don't get me wrong, this method can be a small portion of your portfolio and you’ll be able to brush it off—but if it’s a large part of your plan, it could easily end in catastrophe.