I like some of your observations as well.

I was merely commenting on my personal thoughts and observations, which are not well informed.What areas of Stockton do you like to invest in? 

Replacement Cost New or Reproduction Cost Minus Observed DepreciationThis method, used alone, usually does not result in a determination of FMV.

You may not find this information as helpful as you hoped, but here is my observations from using home warranty companies:I haven't found one that people are overly thrilled with, with the exception being Super in Washington DC.It is the lowest scored category on Angie's List.

This brings us to a key point about retail trends and their effect on commercial real estate: As e-commerce keeps growing, the retail sector’s need for commercial real estate isn’t disappearing, but rather is shifting as industrial real estate – namely, warehouses and distribution centers – play an ever-bigger role in the retail industry.Indeed, commercial real estate industry observers like PricewaterhouseCoopers and the Urban Land Institute, which publish an annual report on commercial real estate trends, have singled out the industrial segment as the top-ranked property type for 2018 as well as the previous four years, while Colliers recently found the industrial sector far outperforms all other segments.

All you're asking for is trouble, and as you've already noticed, it would take a few lifetimes to get anywhere.Second, you have your answer in your own observation, "...then I would need 40 doors...". 

I know this is the last thing from an exact science, but any rules of thumbs or observations based on your experience would certainly be appreciated by anyone who comes across this board.One thing i have found about good HML is that they know who is refinancing to get their money back out of a deal.

(I'd like to observe how it's run before signing up.)

I was a Boy Scout and feel this is a very good life-long motto.Be prepared for the what ifs.Almost 50 years of experience and observation has taught me the number of ways to avoid debt when being involved in real estate investments is limited only by one's mind.

Just an observation.