The issue stems from the tenant having to guess/figure out what breed their dog is if the dog is mixed.

And in general there is a lot of downplaying of risk in the pursuit of pure ROI.None of that is wrong I guess, it's just not my style. 

I am guessing it was with a lender and not an FDIC Bank? 

My guess would be if you see a 4-plex with an 8 CAP listed here in Chandler its going to be in the older part of town where ranch hands would live when this was largely a farming community. 

It seems like San Jose is an active enough market to do MTR, but that's a guess, not market research.Mike

I was recently at the BP convention and met several brokers who seemed to think I should just jump in and start representing investors as I seem to know what to do, but I guess I am hesitant because I have never done so.

So, my guess is this is an illegal ordinance and that the city knows its illegal and they just want to use it for a few years to suit their purpose until it gets struck down.

I'm guessing we end the lease, contact insurance, do repairs - then relist it for rent? 

We obviously handle the ones near us in-house, but hiring someone in another market to work one day a month is a bit of an odd task.My guess is that remote property management companies need to have a sort of Swiss-army-knife person in the area that can do many variable tasks for them and works on an hourly basis as there may not always be things to do, but I don't know that for a fact.How do remote/long-distance property management companies overcome the challenges of not being in the area?

With OHI, there’s no guess work there.