The main disadvantage is you will be held to a higher standard.

You need to carry your own water in a 50/50 deal.

[& is this escrow requirement,& 1% "activation fee" standard with HML's?

Just blew them out of the water on performance.

Use the standardized approach to formulate your estimates keeping within those stats of similar properties, you need to do that because the reader of your plan will be using that same information and if you are too far out, without good justification, it becomes a reflection on you as a business person, are you doing or capable of doing your due diligence or are you trying to fog your way through and reap some benefit.

Our RE is quite affordable and our standard of living is very high compared to other first world countries.

Where Do you you get the standard purchase agreement for california.

Have them fill out a Standard application, done.

I tell my tenants the following:You signed a lease through xx/xx and are fully responsible for the unit until that time, including utilities (heat in the winter).I will start to advertise the unit and will seek a new tenant, but will not lower my standards.

Are there any helpful clauses above the standard lease contract language that any of you have put into your contracts or wished you had?