I understand Columbus is a highly appreciated area, but do you think it is still worth investing with the small cash on cash return (sometimes 0)  if appreciation is expected?

The definition of Appliance has been expanded to include any device provided to the tenant to cool the home, to include permanent or portable air conditioning units, swamp coolers etc. 

As a lender - 1) investors that are just starting out normally float towards high leverage/high rates lenders (lower margins and more risk); experienced investors normally go with lenders that can close fast, reliably, and with low fees.

@Jason Vermeulen In the event that I knew the police had been called I would definitely not renew.

It was high energy which made their pitch feel a little high pressure but I am still SO GLAD I went!   

Having a website is definitely a good idea.

Rental Comps for the zip code are high.

I was lucky and I survived and flourished but there were lots of times during where I thought I was screwed.While the reward was pretty great, the risk was huge, and I would definitely not do it again unless for some reason I really, really needed the money. 

By no means would these be exact estimates and they should not be solely relied on but with high level information, I think most sponsors would agree that they could provide feedback fairly accurate assessments within +/- 5%. 

However, this probably wouldn’t have worked because with super high franchise fees the perception of potential franchisees would have been that the fee structure was too uncompetitive, and the result would have been that McDonalds would have had slower growth, and their competitors faster growth.Two other positive results of the McDonalds real estate strategy was (1) franchisees are more locked in since McDonalds is also their landlord (2) McDonalds was able to bypass legislation aimed at franchisors being able sell product at high prices to franchisees and (3) McDonalds benefits from the long term appreciation of real estate prices and inflation.