Love the strategy I did something very similar, left my job became an agent in NYC and then went to a commercial firm to specialize in multifamily.

@Marko Zivic, did your client move from that property to a new job in San Diego?  

Sell the improved tract with the one legal description and keep the other.

Also anyone who can be paid per our for small jobs like ikea furniture installation, demolishing or debris removal.

I feel this is my weakest point of analyzing deals and would like to improve in this area.

I'm about to start working at a new job full time and it involves a good amount of travel.

My wife and I are in the energy industry and love our jobs but recent market conditions have us wanting to hedge our income resources.To be honest, I don't have any aggressive or lofty goals at this time.  

Ultimately, we want to own enough rental properties to replace our day job incomes.

And, even if rents climb only slowly, my cash flow position should improve over time, no?

Hi Daniel, I would ask if they have completed a reserve study, when the last time was that they passed a special assessment and what it was for, if they have any upcoming capital improvement projects coming up, when the roofs were replaced, when the last time they painted (because if not in the past 8-10 years you may have a lot of leaks).