Ryan, I guess first you need to define what one considers a "good tenant".

This tends to be a very gray area of the law, but there is a fair amount of case law that can help in defining your tax position.There are several factors the IRS uses when determining if an investor is a dealer or a passive investor.Length of time property is held before sale Frequency of salesPurpose or intent of purchaseVolume of salesConsequences of being treated as a real estate dealerIf it is determined that an investor is a dealer, then the real estate activities will be considered a business.

It is not the fault of any one man, or political party, or group of greedy speculators, or any other easily-defined anything.As someone wiser than me once said: "It is what it is".

You definately want to present that one up front.

In my most recent potential deals I have uncovered what seems to be the basis of good seller motivation, ie.. family financial crisis requiring a quick cash sale of property, but I have been unable to convert that mot...

This will be defined by the income and expenses (the NOI) after the work has been done and the property has stabilized, and the total investment made by the buyer (purchase price + repairs + holding costs, etc).So, when thinking about cap rate, remember that it's based on a snapshot of the property financials at a point in time, but the buyer and seller may be interested in two different points of time when doing the calculation...Hope that made sense...

Define what you want out of a deal before you start looking. 2.

How that is defined is like beauty being in the eye of the beholder.

My big chopping component is entitlements...not defense spending.

Vikram,It depends on how one defines the term "cash flow".