I'm not sure where this information is coming from, but this narrative is false.

I suspect some people see the rental demand in areas on the east side of town like Shaker Heights, Cleveland Heights and aren't taking into account the absurdly high property taxes and mediocre (at best) schools in those areas.Regardless of the area if you have reasonable cash flow, you should be okay, just as long as you build in some cushion for evictions/maintenance in areas where the quality of tenants may be less desirable. 

The liquidity would allow us the ability to go shopping when the downturn comes while the increase in cash flow would help us weather the storm should there's softness in the rental market.It's a false statement that there's no cash flow in the Bay Area.

I have not thus far and will not give any false information to the bank, but since the closing is already scheduled, is it a done deal?

This log serves several purposes: (1) for ease at tax time, all repairs will be listed (include cost); (2) you can easily track when an appliance was replaced; and (3) (and most importantly) this will serve as documentation in case you find yourself with a tenant refusing to pay claiming you failed to make repairs and/or ignored repair requests or during an eviction when they try to divert the fact they failed to pay rent by falsely claiming you are a neglectful landlord. 

That's absurd to think I didn't prepare properly for them. 

So many better things to do with your time than deal with tenants having absurd expectations or requests or spending time troubleshooting trivial things.

3 years is an absurd amount of time!

Sadly, I still paid the $25,000 plus about $5,000 to my attorney.Two more of the 5 employees, using the same attorney filed Civil Lawsuits for $1.2 million each and I had 100% proof that every Cause of Action was false, but their attorney probably never reads one document I sent through my attorney because they know we will pay money to settle.

"The perception that housing is drastically undersupplied and that a strong demographic picture lies ahead is creating a false sense of security," according to a report by Zelman's firm entitled "Cradle to Grave.'