- 9% preferred is good, better than the standard 8%-60/40 split after 16% IRR is not good, there are deals with better splits- Generic value add play, invest in units....raise rents....sell at higher price due to increase NOI- I dont like the short 2 year hold but some would love it- I think the fees are high, but not unreasonable.   

Then, as per the terms of the rental agreement for subsequent months. 

We initially signed a contract for asking price on the property and I subsequently asked for $20k break on the price based on the inspection results, which I thought was a fair ask and the seller signed the addendum accordingly.Now the seller is asking me for another $6k to cover costs of heating unit replacements (after further inspections done by the seller as required by the city) since the units are over 50 years old and cannot be brought up to city inspection requirements.

A couple of questions as I'd like to improve how I do this with my tenants:1) do you raise rents annually and if so, how much and how do you determine how much?2) could you recommend a quick script so to speak of how ...

If someone is looking to make a BIG move, there is the opportunity to do some pretty significant value add and increase rents, but it would take a year or more to get it all done with current leases in place.  

We initially signed a contract for asking price on the property and I subsequently asked for $20k break on the price based on the inspection results, which I thought was a fair ask and the seller signed the addendum accordingly.Now the seller is asking me for another $6k to cover costs of heating unit replacements (after further inspections done by the seller as required by the city) since the units are over 50 years old and cannot be brought up to city inspection requirements.

I received an insurance quote that I was hoping to get some feedback on (first time shopping for rental property insurance).I figure there are unnecessary items on here increasing the price, but I could be wrong.

Nothing in this section shall be deemed to affect the legal status of a secondary dwelling built with a lawfully issued permit if the property is subsequently transferred or sold, or if the one-family dwelling or secondary dwelling is subsequently rented or leased.https://library.municode.com/ca/san_jose/codes/code_of_ordinances?

I have no idea what the next congressional budget cycle will hold, I have no idea how that could increase or decrease the number of people on the base, etc. 

The first through the door blazed a path but set the market on price and saw increased higher margins but as the industry matured and more and more people entered the space competition is became rampant, production efficiency increased and price competition is now prevalent.