I use Personal Capital to measure my progress towards financial freedom.If you can spend less than $2,000 per month you may find that it is extremely easy to begin accumulating assets, switch jobs to one that offers more opportunity, or start a business with very low risk.

IF those screws are as stubborn and rusty as they look use a screwdriver and a hammer in proper measure. 

@Bob Bowling, lets look at it this way, in reverse, yes you are not paying 2,0000,000 or 1,000,000 out of pocket,but you need to look at it like what you pay for the property is what you are investing. the cap rate is the % of the investment, so that 2,000,000 property earns 5% to make the 100,000. now the other 1,000,000 property earns 10% to make the same 100,000. the 10% is a better outcome than the stock market will give you. i agree with @Joel Owens, the cap rate is only one measure you use to determine the profitability of a property. as i mentioned before, depends on money leveraged ( amount you put down) and ones mortgage also to see if a property is profitable for them, i personally do not count on appreciation of a property to hopefully make money if it is not cash flowing right ( only if you fix and flip or wholesale do you count on appreciation )

IMPORTANT These are only stop gap measures and you should free the individuals credit or pay back the loan within 3-6 months.

The HOA community has already selected the developer after a very thorough RFP process, and have worked diligently up front to make the process as painless for the community and for the future developer as possible.  90% of the community have voted for the measures the HOA BOD has introduced during the process, and I don't foresee that changing.  

I have to visit the job and take measurements (assume an hour drive each way). 

You are simply looking at ability to pay.White collar job, high income does not translate to trustworthy only measures ability to pay.

Use a tape measure and do the math yourself on wood, paint and flooring.

If a landlord doesn't put proper measures in place to lease up then when they go sell down the road the property is not as marketable.I have seen landlords fill up centers and when they go to sell have weak leases the buyers will inherit so the cap rate price has to be higher along with credit to the buyer to purchase the property.

Material is relatively cheap and can be measured in 100$ on a 2 bath sfr.