I would think that when responding to potential renters it would be vital to be a good communicator. 

Ordinary residential purchases are typically done directly by the investor with subsidized mortgages from FNMA/FMAC making the investment more affordable.Someone hiring professional management could go either way and probably get better efficiency from an apartment building than individual houses, all other things being equal.

It is vital that you deal with the security deposit EXACTLY as required in your state laws.

And finally lots 2-5 also enjoy the same easement rights across lot 6 that the previously enjoyed across 'old lot 1' even though lot 6 may not actually be identified by name anywhere.So now to your new issue with lot 7...you likely need to dig into the same sequence and ownership chain for all of the lots 1-7 and determine who owned what for how long and when....also equally important is not just which parcel the easement is across, but which lots are stated to enjoy use of that easement. e.g. does lot 1 have any access right to the portion of the easement crossing lot 2?

I would collect his earnest money (at least equal to the deposit I placed) and sighn the assignment contract.   

Also ran the income valuation using the yearly income x 11 formula which equals asking price.  

No decision has been made yet whether the equally traditional Rose Bowl football game will be held.

You can add wording to your lease that the security deposit is to equal X(monthly rent).

You have a non-cash deduction equal to the improvements on the property divided by 27.5. 

I know, not all builders are created equal.