@Julie Sisnroy you can have your agent represent you and treat the cash buyer as a customer (as defined by the Colorado Real Estate Commission Docs).

@Will Fraser  Well, i agree with you, you can force the property appreciate in value just like that through value add components but this is when you change hands.

The biggest long term, repetitive and unpredictable issue you will face is the tenant component.

@Moran Eldar, sec 1031 and the subsequent subsections spell out some very specific components to a 1031 exchange. 

I'd start by defining your investing metrics and what return you want and expect to get.

Scarcity defines the current market conditions here in Los Angeles and surrounding areas.

It's just not part of the cap rate formula.Mortgage insurance is generally considered to be a component of debt service, and not an operating expense. 

@Andrew LaingIf we manage the upfit we do not charge rent until "Substantial Completion" which is defined in the lease.

In order for the situation to be a "win" for all parties involved, we would have to define what a "win" is to each party.In general (and in an ideal world): The "win" for the seller is that you are solving a problem for them that they do not have the time/resources/wherewithal to solve themselves.

It's a noble effort you are undertaking here for sure...auditor data is "open" now and most have a very good interface with GIS (check out MapBox or even Power BI)...odds are high that county auditors in these locations are on the same platform...they will have neighborhoods defined by "codes" you can use to define areas...your auditor will also have a "reporter tool" (more than likely) to draw down csv files with the data you need...since you are an agent, you'll want to overlay your MLS data for a complete picture...That said, you can draw neighborhoods with the MLS map tools, pull closed comps for specific neighborhoods and do your analysis from there...our MLS has a data point for rents...this is the only way to see "market rents"All this is a moving target and requires a lot of attention to cleaning and updating your data to stay accurate...