We typically let them know that we'll be raising the rents incrementally and we will sometimes give an increase schedule such as they're now paying $450 and we're raising the rent by $20 effective in two months, and then six months after that it's going up another $20.00 and so forth.

General contractors typically charge a percentage for their service.

@Jacob StraussenTerm is essentially a commodity biggest difference you will see is if you want to have options to convert to perm that's when you would want to do more research and really get carrier specific.  

If you have mid term rentals strictly for nurses, etc. who typically stay 3 months at a time, how do you gauge how to pay a property manager?

The max Uncle Sam allows is 50k if you haven't taken a TSP loan in the last year.I've seen both good and bad experiences with this but at the end of the day it's no different from any other type of loan, you are just your own bank in a sense.The downside or risk is that you lose your job, your property isn't cash flowing, are unable to pay back the loan, and your retirement account suffers since the loan essentially turns into a withdrawal.The upside or best case is you have the loan for less than a year, your BRRRR pays off the loan, and you pay yourself interest 5% interest.The opportunity cost is if the stock market goes up 20% and you were only paying yourself 5% interest you'll miss out on the excess returns. 

Who is typically responsible for obtaining building permits, the property owner or the general contractor?

That’s why you should document the cost basis of your home over time.To calculate the cost basis of their homes, owners typically start with the purchase price.

Typically I don't argue with people on it, I just tell them to do it if they don't want to hear my points.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Forced Apperception (BRRRR or buying at a discount) allows me to build in equity from the beginning.Market Appreciation is where you will make the most money over a 10-year period but is the least predictable.You typically cant get a second position loan or HELOC from an investment property.