Go over those things in person when you sign the lease and get agreement from them.When you have been a landlord as long as I have been, you realize that you can write a lot of things on a piece of paper: that does not mean that anyone will follow those directions.

That is what it is all about.It sounds like your property is quite the income producing piece of real estate with multiple income sources.

Can you break off pieces and sell a lot?

I've only heard bits and pieces here and there. 

Its very complex with a lot of moving pieces and parts and best under the supervision of someone who has been there / done that. 

When you buy a property, you are not buying a property...you're buying a piece of a market. 

I keep thinking what effect this will have on my own houses which are currently worth about 70-75K a piece.

I do however completely agree with you that we’ll likely see a cut next month and that there are standard metrics and pieces of data that help us determine where the rate will go.

After scouring the City of Pismo Beach's painfully vague website, I've noted a few pieces of information which you may find to be helpful.

A developer buys a piece of land and divides it into 7 lots.