The advantage of a preferred return is that it is essentially an annual coupon that the LP must receive before the next cash flow hurdle where typically the GP starts to make money.

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property.This article goes into a lot of the considerations about whether to form an LLC or not: https://www.mmpph.com/wp-content/uploads/2019/04/May-2019-newsletter.pdfBe sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.

Although many landlords are stubbornly keeping rents high, tenants are seeing greater concessions in the form of free rent or tenant improvements (“TI”) to keep those coupon rates high.

Well what I’ve found is that when you first put a listing up AirBnB is going to give you priority anyway, on top of that they will ask if you want to give a coupon for the first few listings (I believe it’s still the first 3) to keep you competitive.

WP is rougher but I think it’s a good neighborhood for investors.

Paper coupons with increments wrote on them - $5, $1, $10, etc.

(Done correctly, this is also a profit center that is not subject to rent control.)A community newsletter that offers real content and perhaps discounts and coupons from local merchants only for residents almost always helps.

Going back to on again off again, like Menards rebates.Home Depot also offers military discount anytime on everything of 10 percent.They have volume discount pricing through the pro desk if you buy more than 2500 retail at once.And if you are a member of a REIA group like mine that is a part of National REIA you can register for their discount program os 20 Percent off paint, specialty priced appliances, a coupon on Hampton Bay Appliances AND an extra 2 percent rebate on everything you spend if you spend 5000 in 6 months.

Latest Top Employers list from the Commerce Dept: https://www.okcommerce.gov/wp-... 

Try TheCEshop, they usually have online discount coupons.