And for brand value I'd argue there is no "nike" of PMc, so many can fluff the feathers and cluck how great there brand value is but I say show me the client stream coming purely from brand, I call BS to that "cluck", and say it's open air and opportunity for any to create brand value in a market and take market share where there is any lacking options in PMc quality or availability. 

My post isn't meant to argue your idea, but more to contribute additional thoughts to the discussion.Thanks for the response and the discussion.

Some will argue that you should hire someone to do everything.

I guess is a master lease with an option to buy...Not to argue, you said upfront that the seller will not accept seller finance. 

I don't think anyone is arguing that you won't do evictions in red states.

I never argue with them, I just post PAPERWORK.

These folks might argue that, in highly desirable areas like coastal California, you can pretty much bank on solid appreciation over time.In another camp, cash flow is seen as king, and appreciation the icing on the cake. 

An uninformed person may argue with me on this and mention a guideline called Delayed financing. 

I would also argue that there are plenty of landlords out there that have rentals which are currently below market rental price.I assume that this part of the tax code was created to prevent those with multiple homes from letting relatives live in one for almost free, while potentially hiding that rental income and not having it registered as a business and pocketing the money.  

Rather than argue, I paid the guy and deleted his phone number.