Invite them to lunch and pick their brains every 3-4 months.

Then you will have an idea on when parents show up, classes start, last minute students, summer classes start, orientation etc.

With that said - you may be able to avoid/mitigate some of the burden on your end.You can mention that buyouts/redemption can only occur at the end of every 3 years(you can pick any number here).You should also mention that the partner wanted to get out of the LLC has to pay for the appraisal.The appraisal can be used to determine how much his LLC interest is worth.

They are a completely separate Asset Class (Equipment) vs Building/Improvements. 

I'm basically offering a clean landlord reference in exchange for taking my offer of keeping April rent towards hotel, returning the full security deposit, and allowing him out of the lease early that has a 2-month cancellation fee.I contacted my attorney but he retired last year so I have no legal counsel yet.There's a certified letter waiting for me to pick up at the post office.

I am not a licensed agent but I went through the classes but ultimately decided not to take the test because I just wanted MLS access. 

There's just so many avenues I could take, I'm finding it hard to pick out which one to go down.

Or should I just pick an area I already know and go with it regardless of whether or not it is declining or rising.

I'd like to take you out for a bite to eat and pick your brain on the concept and how you are using it. 

I am interested in buying two properties - on a scale of A-C, one in a class A neighborhood, and while I don't think the math would be quite there at the higher end, I'm open as far as budget, and another in a class B neighborhood that's shaping up well.