Being in an HOA has no effect on whether code enforce,net and police enforcement would apply....they are totally unrelated.  

Besides, you have a duplex, not a single family detached home.If it's a subdivision, you can have external obsolescence (effects on value from outside factors).

Affordable housing inventories change, laws change or are adopted, financing requirements can change, your money partner can die or change their mind, thousands of things can happen to effect any niche that you attempt to specialize in. 

Can anyone tell me what goes on the last three lines in this agreement "Bird Dog AgreementThis Agreement is made effective as of ____________, 20__, by and between ____________________________(“hereinafter “Buyer” or “Seller” [circle one]), of______________________________________, and__________________________, of______________________________________." 

The best bet is to position yourself so a crash will not effect you that much. 

But I think it would be worth it.My goal for this are:-Effectively clean up area and improve the neighboring area-Make some money by packaging a SFH or multifamily apartment complex/developmentHere are a few questionsWho would I talk to about re subdividing?

I use 10% as a capitalization rate in many circumstances, as costs to enter a transaction or deal increase, the time/management increases, any risk increases, that may go up to 15%, tax effects may take my requirement higher too.

This seems logical if you look at a few years, but after >= 10 years, it seems wrong to ignore the effect of appreciation.Some areas exhibit more growth then others, so it seems there should be a more complete metric.A real-estate investment professional has showed me (among other things) the metric which was named "Cash on cash with equity build-up".

As a byproduct of that, we'll benefit from moving them to commercial loans and no longer having the various loans on our personal credit/credit report - a nice side effect as we're in the midst of moving our primary residence as well as it's a lot easier to deal with now that we have 6 mortgages gone from our credit report and are down to just our primary residence. 

It might not be the right situation for everyone, but can be an effective tool to grow your portfolio.3).