I look at long-term appreciation and San Diego has long term appreciation that exceeds inflation and most other locales going back more than 50 years.  

In my opinion, it is very challenging to exceed that number while still preserving the high level of quality service and communications with our owners.

I'm fine with exceeding goal however

@Frank Chin That would only happen if the bank does the math, and the cost of traveling from the bank to the courthouse exceed the value of the property, then they obviously wouldn't give a hoot about it then.

In any case, in NJ the total amount of late fees for the entire month that you can charge cannot exceed a certain percentage of the rent.

These operators target 10% CoC returns and 20% IRR over a 3-5 yr hold period typically and often exceed that.  

bradley with 400k in equity you should have no problem finding a HML to do the deal as long as their loan does not exceed 70% ARV..

I remember reading in post crash books and articles around '09-'10 that home price appreciation relative to rents far exceeded the historical trend lines in most (?

Fees can't exceed 3% of the loan and with a loan that low it is near impossible for them to be that low. 

I am glad I learned so much from the entire process and with all costs, I am exceeding the 1% rule.