I typically suggest getting three quotes so you can determine who is legitimate.

I am wondering how people go about placing quality big name tenants like Starbucks for example.

HI BP,I've been thinking about what to ask from tenants in case of issues...besides a copy of their gov't ID (Drivers or passport), credit report stating full name, address and birthday, what else do you all typically ask for?

Do a word count on a typical Listing or Purchase Contract!

Sellers are still wanting "too much" as they typically think their deals should still be trading in the 4-5% cap rate range.While I won't pretend to have a crystal ball, I generally think: a) if you want to get a deal today, you are going to need to be more aggressive then you probably are comfortable with in your assumptions.  

Typically, when I'm buying, I do not pay for any of the closing costs, except for items which are pro-rated (I pay my share and the seller pays his) and I pay half of the title company's closing fee (which in Nevada, is about $300 per purchase I make).

For example, what happens if you identify a property and then cannot close on it due to inspection issues or other related problems?

For example, my "Buy Box" is single family homes (at least 2bedrooms / prefer 3bedooms, turn-key ready (no rehabbing needed), in military towns.Property Type: Single Family / Multifamily (duplex/fourplex)Bedroom Count: 2bed/3bed, etcCondition: Distress (rehab needed) / Turn-key (no rehab)Location: Towns/States/Cities I hope this helps!

For example, one property was in a distressed market where comparable properties have seen a ~8% decline in average rents over the last 18 months (the period since completing renovation project).

It seems like the rate is typically about $1000 more than a regular long term rental, for a similar property.