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Noi divided by value...its not possible to come up with 2 different numbers.Further this appears to be a sfh, in which case cap rate has nothing to do with the property.

Since your profile lists that you're managing 42 doors, and your post is indicative of at least a number of your own doors in what appears to be a multifamily, you've got a local rep to maintain with the other rough trade under your managed roofs.At the very least, make sure you never see this guy alone on your property again.

It means your name does not appear on public record for that property, your attorney and their address is the only thing that appears.

It appears that I would have to do an addendum to account for this utility trailer if I did decide to go through with letting them leave it there.   

  $8 an hour for an LO, plus what appeared to be a very convoluted commission structure. 

I would suggest you get ride of the presumption that you can't do anything because you are just starting out, and if you find what appears to be  good deal to you then think of all the ways you can use that to your advantage. 

so you trade one job for another.. one you run yourself the other your working for someone.. its a personal choice. there was an interesting back and forth over on the " rent control is sweeping the nation thread"" with a couple of SF long time landlords.and as one pointed out  his 13 doors are worth 200 plus doors in the mid west his cash flow is as much if not more ( he bought in the 90s is appears)  so he self manages his 13 doors  his renters are all mid level or higher Tech types  who can pay 2500 to 5k per door for rent.

It would appear that you need to go to the properties and introduce yourself to your tenants and get copies of the keys and lease agreements.

The law makes no sense but it appears not to have much teeth to it.