Additional inspections at first sign of any trouble (late rent, excessive number of visitors, unusual noise, etc.)

Market rate rents are used and only amounts paid in excess of market rents is allowed toward equity to base the loan amount on.

Not sure what the labor rates are in Washington but 50 hours to paint a room and some minor electrical work and hang some doors and install some carpet seems a bit excessive.

If you have any excess properties that you don't want to keep, please reach out... 

High initial cash flow and appreciation in excess of inflation are not a combination that happens regularly ... be sure to validate any assumptions like this against long term historical data in the exact neighborhood you invest in.

—In the case of a taxpayer other than a corporation, there shall be allowed as a deduction for any taxable year an amount equal to the sum of— ‘‘(1) the lesser of—    ‘‘(A) the combined qualified business income amount of the taxpayer, or   ‘‘(B) an amount equal to 20 percent of the excess (if any) of—       ‘‘(i) the taxable income of the taxpayer for the taxable year, over       ‘‘(ii) the sum of any net capital gain (as defined in section (h)), plus the aggregate amount of the qualified cooperative dividends, of the taxpayer for the taxable year, plus ‘‘(2) the lesser of—    ‘‘(A) 20 percent of the aggregate amount of the qualified cooperative dividends of the taxpayer for the taxable year, or    ‘(B) taxable income (reduced by the net capital gain (as so defined)) of the taxpayer for the taxable year.

All stated 'ridiculously excessive' when I told them the whole story. 

Today’s value is in excess of $1m and free cash flow is running $3k.With the Lakewood property I could easily see it valued at $1.3m in less than a year and free cash flow (after all expenses) of $2500+/mo.  

So, I know they have some excess cash at the moment and might be more flexible. 

Therefore, I am proceeding with the assumption that all of the HVAC systems are in excess of 12 years old and are at the end of their lives (~$35,000 for all units to replace).Also, I checked with an insurance broker and he said that the age of the roof and the fact that it predates the 2002 Florida building code will make insurance very expensive and that I should consider replacing the roof upon purchase--he was not even sure I could get a policy without a new roof.