You can easily get stuck with a property that is no longer grandfathered from current zoning regulations if it has lost it's continuous use status(sat vacant for an extended period of time).

One is easily meeting the 50% rule and the other is not (it's at about 85%, which is ridiculously high, but it used to be our primary and it's going to be paid off in 6 years.

If you always have it in your name, the city doesn't know (as easily) a change in tenants has taken place.I don't know if commercial rentals are the same way for those cities.

Your area seems interesting because you can easily go low end or high end.  

The proof that a dog is not a pit bull is very easily available.

I was not as worried about the purchase price vs the current value as the property cash flowed well, rented easily, and the land would be valuable in 5-10 years when the zoning changes, as the lots boarding on 2 sides have already been re-zoned.

That is my 2015-2016 to make sure that everything is assumed easily in the case they are incompasitated or no long with us. 

I use a property management company to handle the day-to-day operations and so I only use a simple spreadsheet to keep track of my revenue and expenses month  by month (with a year summary to give my accountant).I can't remember where I found the spreadsheet template (i think i just googled it, but you could easily re-create something like this).Hope it helps!

Instead of Village View Apartments, it could just as easily be "Village View Apartments, presented by Taco Bell" or something similar. 

I asked her to check on a duplex I was considering that was trashed but otherwise structurally sound and can be easily turned around.