They are basically paying to have someone hold their hand through a process they could have easily navigated on their own with the guidance of knowledgable professionals (agents, lenders, title co, etc)Jeff

Builders can easily build many more new homes on these vacant lands and bring the house price down. 

If they are professional, they can explain this quickly and easily.

I believe tenants should have reserves, but the reality is that tenants do not have the means to easily build up reserves. 

Well he lost his house due to stupidity that could have been easily remedied but got that screw 'em attitude and his car is aging.

., he can easily evolve into those guys.

But based on buyers I source to in the market bottom line criteria for net operating income after expenses, the NOI after expenses is easily a solid 11-13% cap. 

In simple terms, someone who understands that this is our business which we are trusting them to manage for as high an ROI as possible.That is easily able to make the difference between 50% and 60%, etc., and for us that is a huge lever in the profitability of our business, even more so since 80/20 leverage will amplify this difference significantly.

I could easily be wrong about this and overanalyzing it as I am newer than many other more experienced people here. 

My list has 40 items in it and it could easily be 80.