Finally, The rent control discourages further development, limiting supply which results in higher rents.So rents go up, but the rent control advocates are too uneducated on the economics of the rent control policy to see their role in the rent increase.Another consequence of rent control is no value in keeping the property as nice.

Our process server charges $40 within the city limits.

Further, Neal also announced last night that he is making a limited partner investment (cash injection) into the project, even as he gave away all of his general partner shares to a deserving partner.

I believe this is correct, but only limiting to 4 total.

The influx of tech jobs, manufacturing, mining, and Californians there is a strong population and combined with limited to no multifamily new construction we expect a severe housing shortage.

Limited capital means that partnerships will help us move faster while the environment is profitable.

Really your reply is the kind of thing that has made Bigger Pockets so valuable for people like me with more limited access to a broad range of more experienced professionals.

Pretty much everything I have seen and read is:Find out the sellers motivation/problem and speak to solving that issue.Give an offer but explain how you got your numbers.Other than that, it seems pretty limited for negotiating information. 

This limits their RE Investment options to RE that does not have huge negative cash flow.  

That's Property Management 101.If your PM didn't have this lined up and didn't make you aware of this limitation upfront, that's a red flag.