I now oversee the day-to-day operations for our MEP, insulation/air sealing and renewable energy crews (which is actually only one crew right now; we're planning to expand to 2 - 3 crews this year).

However, if I am remembering it correctly, the take away I had was that you should strive to operate like a business.

A high cap rate could be the result of a relatively high net operating income or a relatively low purchase price or a combination of both...

@Josiah Halverson I don't know the ins and outs of how those guys you mentioned operate but this has been my assumption.

Once you comply, the lead inspector will provide the lead certificates and documentation showing his estimation of the cost of the deleading, which is what I provided my cpa to claim the credit. 

You know, podcast 55: How to assign lease options and comply with the Dodd Frank Act.J/K folks but that would really be a cool Podcast for us investors new and old.What you think Joshua?

One which has provided me the opportunity to successfully operate my contracting and property managment businesses for the past twenty some odd years.

Or NOI could be understated due to capital expenditures being reported as operating expenses.

All of this is negotiated and spelled out in your operating agreement your attorney sets up.Expectations have to be clearly defined and agreed to UPFRONT as equitable for all involved.

Pre-foreclosure is the niche I want to learn and operate in but it appears that I still have much to learn.