@Jillian EzMy CPA told me to talk to a real estate lawyer for the best answer, but offered this:“This depends on several factors including concerns for liability and budget.

Again, not being completely blind to other factors: inspection is good, cash on cash is reasonable, etc, etc.

Thus I think the rule/law is reasonable step to take to minimize exposing sellers to such liability. 

Investing in as a LP vs being a GP involves so many other factors. 

They have to have some motivating factor in their life for it to make more sense for them to sell it to you, knowing they're likely leaving money on the table, instead of listing with an agent.

Are they doing everything they can to expose properties to the widest possible market?

We are about to sell our 2 bed 1 bath in Port Angeles, WA and Im curious how the comps of $/square foot affects other property factors.

Explain that you had multiple applicants and his interest in staying long term was a deciding factor in selecting his application.

No one wants to pay a PMC enough to do that.Recommend increasing your Vacancy/Nonpayment factor to 25% for Class D and even that may be too low.It would definitely be a great learning experience! 

So just owning a property for a long time is a non-factor.