Already running on few hours of sleep I've started reading and listening to podcasts religiously and fortunately for me when I first started my RE education the first thing that popped up on google was BP.

But in other markets, where the swings can be wilder, or where you are heavily dependent on the fortunes of a couple of major employers, you need to have a lot more margin of safety.I'd be scared to go below 6% cap.  

We are very fortunate to have great renters that take care of it like it is their own.  

I'm fortunate that my office allows me to run my business as I see best fit.  

Fortunately, my brother and I run a Licensed GC company in the valley, and we are a SAM vendor for Fannie Mae!

Fortunately they moved to FL, put all the money into their home, and FL homestead laws protected them.

BP forum is a really helpful resource because I wasn't fortunate to find this when I did my first few deals :( You are in good hands here on BP but don't forget take everyone advise with a grain of salt. 

If you’re looking to take a more passive role in your real estate and want the benefits of diversification there are funds available to accredited investors that are designed to allow investors the opportunity for ownership of institutional investment grade property that is occupied by regional, national, and Fortune 500 credited companies. 

Fortunately, he has pretty low annual tax for about 800 per year.But, suppose you account all of the big items and average them out down to the per month accrual, I think $200 seems like a good number to have for capex.  

We don't go until Mid-July..Go forward with Good fortune!!