In the 3rd quarter of 2015 I began to see a profit after a management change and some other steps that were needed.

I remember my brother-in-law telling me (when I was thinking of dropping out of college) that "just finish it Clay, I have a master's in education and have never used it--but I got the job I have now because I was the candidate that had a degree."  

First, he made the prediction that the stock market would crash to 6,000 by first quarter of 2015.

In the end we had a quarter of a million dollars come to us at the close of the sale with half of that in the form of debt at 2% annual interest.

Basically the fund has a preferred of 12% but it is only paid as the managers declare a distribution which is usually quarterly and can vary below the 12% leaving an outstanding balance forward. 

(for ex if tenant has 30% of the livable space than have tenant pay 90% of the 30%= 27% of the quarterly water bill) Water rates in the city are rather high now. 

I was quite amazed to hear this as at least three quarters of the Corcoran listings at the time had to be co-ops.

At best you can only do your regular quarterly inspections and stay on top of the situation.

I'd have preferred (for selfish reasons) for the rate to stay at zero, but the quarter point isn't going to kill anybody's deals. 

I bought my first flip when I was 21 and used the profits from it (25k off a little house off clays mill) to buy my first 2 rentals.