I'll certainly have fewer properties that match my numbers, but I believe I can learn from these situations.What if you have a longer vacancy?

Or, if repairs exceed the equal $60K, I can match him dollar for dollar for whatever amount exceeds that?

@Kevin Rhoden we can't help you in NY right now, so my recommendation would be to purchase your list from a service like Listsource, that specializes in real estate lists, and then use a second service to "match append" phone numbers.

At that price I figured I'd buy everything I liked, style-wise, as when I buy a new property and need to add a cabinet or drawer fixture I often have to replace all of them as it's rare to be able to purchase one that matches the fixture(s) already there (as they're often older fixtures that have been discontinued).  

All of this is contained in the operating agreement or limited partnership agreement, as the case may be.Finally, you have to make sure that your waterfall calculations exactly match the language of your operating agreement.

As everyone mentions learning your target market and analyzing plenty of properties that match your criteria that you develop for your business. 

If you can find any that match it within a reasonable time frame (like 6-12 months max) then you would probably need to come up with an average price per square foot for the neighborhood.

And once you can nail down what you would like to achieve, let different markets match your metrics. 

I knew it felt too cheap, but what im worried about is why has the property management team that currently run the property not increased the rent to match the rest of the neighborhood/area?

The community property state you live in actually strengthens that although community property is a state designation and does not bind or restrict federal statute in any way.Now all that being said,  I'd always recommend  that you make the deeds match as much as possible to avoid even questions that can be answered.