This explanation is helpful.

The next property I purchase in their geographic footprint will also be managed by them.  

The IRS defines a “quality” cost segregation study as “a study that is both accurate and well documented with regard to” 1) the classification of property into classes, 2) Explanation of rationale for the classification of the property and 3) substantiation of the cost basis of each asset and reconciliation of the total allocated costs to total actual costs.

This means investing across asset classes, geographical locations, strategies, and sponsors.  

Because this clause wasn't in the lease agreement,You hear these kinds of excuses and explanations (vary by circumstances) everywhere you go nowadays.We're becoming a nation where the Law is subject to personal excuses by indviduals that aren't suposed to interpret laws.

Michael-  Great explanation of the property classes and appreciation vs cash flow outcomes.

A lot of this, 3 & 4 especially, is geographic-dependent. 

Diversifying your portfolio can provide stability and growth potential, especially if you explore different types of properties or geographic locations.

See below for explanations, with headings taken from the attached document.Broken windows or exterior doors-The two narrow windows in the living room do not fit into the walls properly.

What geographic market areas?