It's a rule of thumb but it's not a rule to throw in the towel if you can't meet it.

In fact, the high end market has been getting soft since the fall of last year while the mid-end is holding steady, and the low-end is still thriving.The LI for CA has turned down quite sharply compared to several months ago while the Silicon Valley economic index is rounding out the top.

There is a 100-150k difference in price between selling a 2/1 into a 3/2, IF you spend 70-100k on an addition (hard and soft costs), may it be up or extension, there's the 30-50k upside.

Also, he found tampons wrapped up in paper towel.

@Eric Barnett if the rate is 1.75% above prime then that's soft money.  

If you are 100% committed to the property management business and can scale it to well over $40K income within a year or two, go for it. 

If the issue is that you have a soft heart and don't want to be the bad guy, then you might consider hiring a property manager to do it.  

Recently we've thought of offering move-in baskets at one of our complexes (think tide, dawn, toilet paper, paper towel roll etc). 

In another, where I already have replaced old kitchen appliances with new stainless-steel ones, I might replace the old sliding patio door with a nice french door with blinds in the glass -- as the beginning of an eventual kitchen remodeling -- and maybe replace old bathroom lights, faucets and towel racks.

There were times when we felt like throwing the towel in, becuase we didn’t have paycheck to live on and we weren’t even close to a deal.