If your note came due after 2007, you were in trouble unless you had a low LTV and strong pre-existing banking relationships.

Other than rain of course ;) Cost of living was low, taxes were low, personal freedom was high, I really liked the culture that used to exist here too before pretentious yuppie corporate culture completely took over.

There are a gazillion people trying to wholesale around here.It’s an extremely competitive and saturated market.

We can't get another mortgage to move out of the commercial building right now, and year lease rentals are basically non-existent in our area (at least ones that are the size we need).

Completely new kitchen, bath, high efficiency HVAC, new water heater, everything freshly painted, re-finished existing hardwoods.

The forecasted future IRR may be fine and continue to meet an investor's criteria...but most investors do not subject their existing portfolio to the same criteria as their acquisitions. 

It seems like the existing multifamily population in my area is split, with some offering W/D and others just the hook ups. 

The first line of the Legislative Counsel's Digest includes the following: Existing law specifies that a hiring of residential real property, for a term not specified by the parties, is deemed to be renewed at the end of the term implied by law unless one of the parties gives written notice to the other of that party’s intention to terminate. 

The first line of the Legislative Counsel's Digest includes the following: Existing law specifies that a hiring of residential real property, for a term not specified by the parties, is deemed to be renewed at the end of the term implied by law unless one of the parties gives written notice to the other of that party’s intention to terminate. 

It really is an amazing space, probably one of the last property types yet to be institutionalized but it's coming - public REITs own less than 3% of the existing stock and its estimated only about 15% is owned by private institutional investors.