A word of advice, if a tenant seems really needy/chummy in the application process that is how they will be as a neighbor.

Also, since you like Sherwin products, their Superpaint works pretty well for this type of application.

The city told us that all the owners of the 6 properties had to submit and sign a new subdivision application so that the city could issue permits and turn utilities on for the investors that were requesting it.

He told me to fill in an application that asked me personal questions, like goals, financial status etc and then have a call with one of his sales guys.

EXAMPLE: Had an applicant several years ago.

My understanding is that you have to submit an application with the county in the same year as the transfer/purchase.

Many tax laws are open to interpretation and even an incorrect application abuse of the law is probably not getting anyone thrown in jail especially when they will eventually pay their taxes on the money. 

Do you still use an application?

If not, CAP rate is a metric, but not applicable as 4 and under are residential and valued by comparable sales.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).