I personally believe single family produces the best rents and appreciation.

$400k equity is producing $1600/month cash flow for a return from the cash flow of 4.8%.  

I was told initially that commercial deals(5 plus units) were based more off income property is producing than personal credit/finances but that's not entirely true.

Do not do anything that does not produce income.

Does the California government believe that wholesaler activity around the fires would only produce a net-negative?

This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.

Fail to produce K-1s in time for LP tax returns to completed on time, refuse to communicate with LPs, when LPs start to express frustration.Cheryl Cheryl, I'm sorry to hear this.Many investors learn expensive lessons with their early investments.Knowing nothing about this deal (because I didn't invest) I can already tell you the 24% projected return was a major red flag (in my opinion).

You can go as low as 2.5x in some cases but NJ tends to produce enough traffic/applicants where 3x should be minimum unless property is over priced.

Many of which are savvy BP type clients who are doing updates/raising rents and then the buildings do cashflow positive even with lower down payments which produce amazing returns (at 3.5-5% down you get close to a 50%+ return a year just off mortgage paydown). 

Top producers are always very pleasant to work with (which does not mean they are soft)3.)