Hi @Andy M. surprised you recognize me in my little boat.

For a converted SFR, you migt end up with three water heaters serving five units, with one single shutoff, and two tanked water heaters and two little tankless in two of the six baths, that makes it a nightmare for maintenance because you may have to shut everyone down to solve a problem in one unit.Also mailboxes, I know one property I saw a few months ago was a five plex that was a fourplex with a converted garage and they had an issue getting the post office to recognize a fifth mailbox as the garage has no door number.

On one hand, the city continues to utilize its presumptuous water consumption estimating method that errs on the side of “over consumption” (which they recognize on their WaterSave page’s guarantee statement: “On average, single family homeowners with water meters save 25% on their water bills and two-flat owners can save even more.

Keep these special people in your thoughts today.This is a day we the fortunate need to recognize our our bounty as well as those who are less fortunate, often we are too quick to categorize the poor, the indigent and those with few means and fail to recognize that their positions may not be all of their own making or choice.

I recognize your purchase timing was not optimal and in I had purchase 2007 I would not have the same type of gain.  

If you have a really good relationship with your property manager (and you are clearly making money on your investments since you continue to purchase more properties) then there's not really any reason to ask for a rate reduction.I always tell my PM client's that their success is my success-and you have to recognize that if your PM is doing a (hopefully) fantastic job with your investment-then they have earned every percent that you pay them, and deserve to enjoy their success along with yours.My guess is you wouldn't ask your real estate attorney for a discount on the fifth property you purchase, or the home inspector, or the realtor who sold you the property-so why the property manager, the one who protects your investment at every step?

So, when you look for an education look to the authority, reputation and purpose of that sponsoring organization as well as to the recognized qualifications of the instructor.Yes, I'm snowed in, I'm done :))

With a 50K adjusted basis gain recognition and purchasing 100K less than what you sold the entire depreciation recapture and gain would be recognized.

Any PM running their business the same way as they were 3 to 4 years ago is not really a savvy company to recognize the changes in the market.  

Keep in mind, brokerages are regional, so many people do not recognize the names of big name brokerages from other parts of the country, such as Windemere in the pacific northwest, or Long & Foster in the midatlantic, 2 of the top 10 say largest brokerages in the country who are region specific.