Again, others might feel differently here.3) property level due diligence: (takes seconds to weeks per deal): here is where I drill in with the low-level details.a) pro forma popping: I examine all the assumptions, and see if they are overoptimistic or not.

But you probably do not want to form a partnership with your partner.

Is there a way to form a convenant that is written with the government to never pass laws that are hostile to landlords?

Hello everyone... calculator question here:I have been trying to figure out the difference between the Pro Forma Cap Rate and the Purchase Cap Rate on the calculators and the only difference I can see is in how financing is handled:Purchase Cap Rate - treats the deal as if it were a cash purchase, and ignores any financingPro Forma Cap Rate - uses the P&I payment as an expense, lowering the cap rate from the Purchase Cap RateIs this correct? 

First at that rent ratio my conservative pro forma that allocates more for maintenance and cap ex than those suggesting a different market (meaning a conservative pro forma) would show that as cash flow positive with a conventional 30 year at 80% LTV.Second, the ADU regulations allow, for the next 5 years, converting an existing non permitted unit to ADU/JADU by only addressing heath and safety codes.  

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

Since you are a long term hold investor I always tell people that you should look at year 3-4 pro forma.

You'll want to certainly conduct a Pro Forma to see where you can take it - meaning increasing both Revenue & Value once you are the Owner Operator. 

However, we want to form a limited partnership to buy the second as well as transfer the first into.

Now, you would be buying these at 14-15cap which is decentThese are still good buys at your rents and prices, but I think your quick pro forma is off and we’re going to need a few more houses to get to 10k/monthly.