You'll want to get an air quality test to determine if you have elevated mold levels -- you won't necessarily see the mold.

In most cases, if you make quality decisions when you buy, your property will show taxable income on your schedule E even after depreciation.

The other thing you can ask for is a cosigner from someone with better credit.Usually they move on to another landlord with lower standards but I have people jump through my hoops and with the extra "skin in the game" they have been better than average tenants.

Market CAP Rates vary depending on the quality and type of property.

I want to move, but a house of equal quality in a nice area would cost more than I could get for my house so I'd lose my Prop 60 advantage.

The standards achieved in your 1st few jobs can lead to many more profitable accts.

Where on a 10-cap basis values the property at $128,000 and/or $12,800/$20,000 is a 64% return on cash invested or about 1.5 years till it returns all cash invested and playing with the "house's money".My goal is to buy and "never" sell so I am okay with buying at market value on this property given it's cashflow, although it certainly won't be a home-run by appreciation standards, by the time I'd sell (ideally) a modest 2-3% over 30+ years it should hold it's value ;).

If you reject somebody for a credit score, you should have that in writing and apply that standard of yours to everybody.3.

I wouldn't look at the total amount only but the quality of the property.For instance I wouldn't buy an 800k property just because that was my plan.

Dont know if I need to bring an attorney in for drafting one, or use a standard agreement, if there is one.