Please read CH 19 of David Schumacher's book BUY AND HOLD (2004-2005) revision called THE ALAMEDA CORRIDOR AND IT'S IMPACT ON CALIFORNIA AND THE NATION. http://www.amazon.com/Buy-Hold-2004-2005-Estate-Fortune/dp/0970116225This chapter is a must read for anyone buying RE in SoCal and looking for an "affordable" way into SoCal real estate.  

If you have questions regarding the legal impact of this kind of agreement, you certainly need to take the entire agreement to a loca lawyer for review.

Habit turns into your life.Are you a real estate investor to just make money OR to also have a positive impact on your customers, partners/contractors, and the communities in which you operate?

And that Bay Area sky-high rents are now impacting valley communities where developers are not building enough rental units.

All of these factors and much more impact the cost of a foreclosure. 

Not impossible but families rarely move, few look at homes the week of Christmas (for example), and whatever snow-hurricanes hit do impact prospective tenants showing up.

Before you get a profit from it, you have to catch up to the negative cash you spent to pay down the debtB - How does a downturn impact your ash flow

One thing I underestimated was the impact that the winter months had on renters and their willingness to move.

Andy,As long as you aren't installing hurricane impact rated windows or need windows with leak resistance above 60mph winds, any standard window with DIY installation should work well for you.

If it increases above that, you will negatively impact your Cash Flow which will then impact your overall IRR.You will see that it does not significantly impact the previous spreadsheet IRR if we assumed a 6% Average HELOC Interest Rate.