.- Cap rate is more of a measure of market sentiment (bullish or bearish) in a particular geographical location.

These are luxury in the fact they are expensive by most people's measure and they have some nice amenities and are very nice properties. 

They were measured, they were weighed, and they were found lacking.

Time will tell how much I will lose but I am taking measures to try and recoup money for work not completed.

I expect one of the first things Biden will do is encourage much longer-term, much more vague moratoriums on evictions "for the duration of the pandemic" to be put in place.Especially in the blue states, expect measures designed as preferential treatment for poor black folks as a quid pro quo for what Biden obviously understands and mentioned was their role in winning him this election.

Scott defines a scalable career as one that pays for performance against objective measures so you can achieve unlimited upside. 

The walls are angled and I am not sure how to accurately measure the angle to cut the countertop?

That way I am not even considering to account the improvements that lead to a point where you can lease the properties directly in the annual performance calculation.I would look at it this way:Purchase price = XRenovation cost = Yif done well, appraisal after reno is more than X+Y.Refi property to cover costs of Y and use any equity gained to buy the next property for X(New)Measure performance based on rental income, cash invested, expenses, and any reserves.For my case (or yours) determine the reserve size for a reasonable risk for costs in vacancy, maintenance, and CAPEX and put that amount into an account.

He has ignored eviction warnings in the past and despite having his water and electric disconnected he maintains some measure of residency, as does his large pit bull type dog. 

Of course, for those that have already attained a measure of wealth, protecting assets through diversification becomes more important than generating additional wealth, which is an expression of the fact that most humans are risk-averse, the pain of loss outweighs the pleasure of gain.