And since I buy in quality neighborhoods with a long history of strong demand, limited supply, and therefore rent increases, my cash flow per unit tends to go something like $100/mo first year, $200/mo second year, $320/mo third year, $450/mo forth year ... as opposed to being cheap and buying in less desirable neighborhoods where the cash flow goes $300/mo first year, $300/mo second year, $300/mo third year ... you are actually losing purchasing power in this case after factoring inflation.

In addition the seller countered with the request that the inspection be done up front as oppose to after bank approval.  

Through basic upgrades, fresh paint, new flooring and general prep of property and structure exterior.

We moved walls, added a laundry room inside the property, added a patio, added privacy fencing, added an automatic sliding gate, closed off exterior doors, added exterior doors, new windows, and all the cosmetic upgrades you'd expect in a flipped house.

Exterior siding probably would look better if it was replaced, but is not peeling.

I actually like the franchise model as opposed to starting up your own business.

The ceiling on the lower level needs to be finished, but the exterior walls are in good order, there is plumbing already run and electrical wiring throughout the downstairs area. 

Kevin Polite has the HOA fined you for the exterior paint?

. - I assume the seller does not want to sell until July 10 so as to keep things as long term capital gains, as opposed to the seller can't sell because of some deed restriction (or redemption period); is that correct?

It is much better for you to have your insurance pursue their insurance as opposed to you having to do that.