I like how his analysis of demographic trends point to sustained/increased demand for multi-family and rental properties in the future. 

Unlikely you'll be able to increase the price and get the seller to commit to paying them. 

If you start drawing first without knowing what lines you can color in you may be wasting time / money.

@Ron Willbanks I've seen people do it for state of mind and also to partner with others so that they can each invest half of the minimum in double the number of deals (to increase diversification) but, as others have said, it's not necessary if the Sponsor structures efficiently.Unless you have a special circumstance, it's kind of a waste of money.

As the rental market stays hot the rates are increasing quite a bit year after year.   

I’m in a 506(b) on the GP Side right now & other than the ability to advertise under 506(c), one reason one wouldn't go with 506(b) and accept Sophisticated investors is increased liability.We feel comfortable and run a tight ship so we’re not too concerned; However, our SEC attorney has drafted all docs (operating agreement, subscription, & PPM) and has encouraged us to have the PPM be a more robust version because we are allowing sophisticated investors to colloberate. 

I have a financial adviser but he's a stocks/bonds/etc. person, and I don't want to increase my holdings in that area of finance any further, so I don't really know what kind of person to look for, for advice of this nature.

To increase your business as an agent I would high recommend the (red book), The Millionaire Real Estate Agent, you must know about it since you are with KW. 

Obviously, most owners will appeal the decision but who knows the outcome...As far as I heard, JC downtown didn't do a re-evaluation for a very long time which is the reason for the absurd increase..

My experience is that the investor class homes sell at a second lower tier of pricing.All that said, if you really want to increase the value of my homes, go ahead and buy for $120k, 😜 but I personally would look for a better deal - they are getting much harder to find in Normal Station but still come up from time to time.