@Thuy Pham-Satrappe, that's unfortunately the price to play the game.10% maintenance markup:  Maintenance should be expected, therefore I would argue any maintenance items should be covered in their monthly fee. 

Although this doesn't mean we shouldn't keep investing, we should certainly have a high cash flow margin to make up for the suboptimal equity circumstances we're getting into.This means most people who live in CO like yourself, or CA like I, shouldn't play the local property game!

This area is full of BAD people who know how to move in and play the system. 

Play the long game.

Looks like you're planning to play the long game so annual increases will be important (if the market allows).

Play the long game, focus on the fundamentals, and you can't help but arrive right where you want to be!

and if your going to play the buy at court house steps game this is just one part of it.. 

Learn the nuts and bolts of how the investment works, from something like Joe Fairless' Syndication School or Michael Blank's book on Apartment Investing.If you're down to play the long game, you can always build relationships with sponsors, get on their investor lists, and learn for free by reading their contracts.

I think what I am going to do is continue to play the numbers game and just make sure the properties I'll consider in the areas mentioned above have excellent potential cash flow. 

I hear yeah, there are always people who will "play the game" and abuse the systems and tools given to them.