Ventilation may be inadequate and moisture may accumulate indoors.

MY; apparently few have actually perform a walkthru for rentals :sigh:The walkthru is intended to see the CONDITION of the property, not the floor plan or paint scheme.Look for:water leaksall fixtures actually workverify hot water at every sink, shower, tubfill every basin (and tub) and empty them all at the same time - - should drain normallyverify every outlet is operationalrun the heater for 5 minutes and then swap for the A/Cinspect all doors, windows operate normally and are not brokeninspect floor covering for 'excessive' wearThere are other professional inspections you should request in your offer:termite report, class a clearroofing

Excessive water cause MOLD and that is a big no-no nowadays.

Because they've regularly exceeded that, you'll need to increase their rent to $XXX to cover the excess use.

Make sure you have plenty of excess cash.5. 

Let's not get into politics but since we're all like minded-ish investors, read this and let us know what do you think of forcing market changes, area changes, affordability, excessive taxing etc?

Sales proceeds pay back capital contributions, any accrued but yet unpaid preferred return, then the same 50/50 split.Another developer I know did a similar formula (8% preferred return) but tied the split of excess proceeds to the IRR of the project, with the developer receiving a higher portion of proceeds for higher IRR.

(a) The Manager maydistribute to the Members any cash of the Limited Liability Companyin excess of working capital requirements or other amounts that theydetermine shall be necessary or appropriate for the operation of thebusiness of the Limited Liability Company or its winding up anddissolution.

That's what I did and my first property was distressed, had moisture/mold, and a leaking roof.

You can affirm that allowing the animal does not mean other rules already in place for the property can also be ignored, such as excessive noise, offensive odors, aggressive behavior by the animal, cleaning up after the animal in common areas, etc.