I screen animals and then assign a score to determine how much to charge.

The painting should be completed within three months of the move-in date, and the Lessor will inspect the work to confirm it meets these standards.”This implies that the LL gets to determine that the paint job meets his quality expectation.”Per the mutual agreement between the Lessor and the Tenant, the Lessor has agreed to reduce the monthly rent from $3,200 to $3,100, allowing the Tenant to repaint portions of the house at their own expense.”this is not as clear as it could be, but could be interpreted that the rent is $3200 if the tenant does not paint the areas that the LL specifies to the quality that meets the LL quality expectations. 

It has great potential and the ability to cash flow nicely.

There's some info out there, but hard to determine what's real and what's just fluff.

It was more lucky than good and says very little about the sponsor's abilities. 

As a lender (aka “Maker”) to Norada, you are a valued member of the Norada family.The purpose of this correspondence is to provide you with an update on the repayment under the terms of the promissory note (“Note”) as an obligation of Norada Capital Management, LLC (“Norada”).As with all businesses, Norada is subject to market factors that could impact its ability to make payments.

If you are not starting from a very strong financial position and you do not have the ability to quickly stockpile cash quickly from other means then I definitely agree with that statement from the book.

Pursuing a SFR in the fashion I mentioned above would be more amicable, but this depends on your ability to enter.   

Value adds that could bring up cashflow/value:- renovating units to bring rent up to 6-7k/month - ability to rent out parking space on the property as lot is large - trailers, parking, RVs etc - about 1-2k/month cashflow. - property had TDR trasnferable development rights and can be built 5 stories on it.

No offense, but I hate the idea.You can send someone a bill all you want, but they aren't going to pay it, which means that all you are going to end up doing is turning off their account.