The asset protection works as a legal function of existence, its not dependent on SEC regs.

@Jimmy Chao 99% of water intrusion problems are due to improper drainage--namely improperly functioning gutters, downspout and extensions and soil not being properly graded away from the foundation.

You also brought up roofs, I believe the Governor and the legislature is working on a bill to address the 15 year roof issue, it has been identified and I feel good it will be written to protect the home owners with older fulling functioning roofs and still maintain fair good coverages for storm replacement.  

Cash flow is mostly a function of how good of a deal you can find.  

I used some of those for single family investing too.In commercial property Cap Rate has one main purpose -- to assess the value of the property as a function of income. 

But the operator, in my eyes, would only be the people/groups that likely sourced the deal and fill the asset management function.  

As a buy and hold investor mine are: safety (first), security (second), function (third), and aesthetics (looks are last).  

On the demand side, ability to pay rent is a function of a renter’s income, while as home prices are a function of interest rate and income (people buy the most expensive house for which they can afford the mortgage payments).

@Julio Chacon JrWe choose vacation markets, and then pick the areas that we like to personally vacation at ourselves to take advantage of function stacking. 

Usually those two functions (even in those cases) are kept separate.