Increasing income by renovating units as they turn and adding laundry to each unit.

Think about laundry.

I know that they will probably say that since they will be able to get you more for your settlement that their fee will just "wash out" in the end, but it's not guaranteed that they can get you a bigger settlement... just don't let that inhibit you from being able to complete your repairs/rebuild.

The buildings on those sites for the most part are bigger complexes.That means manager on site,maintenance on site,possibly gated entrance,pool,tennis court,laundry facility,meet and greet space,and workout facility,etc.The age and amenities dictate the rent price of a building as well as if you unit just shares common walls or is stacked with people above and below you and behind you and beside you.Also some of the older buildings include utilities.So when looking at rent comps you have to drill down and make sure you are comparing apples to apples.When someone shows various rent comps I can explain why one is one price over another.Also comes to even finish for the area.Example 1,200 sq ft 2 bed 1 bath in an area that is 30 years old with cedar siding rents for 800 a month.Conversely the same 1,200 sq ft town house 1/4 mile away has brick finish with molding,garage,and granite and crown molding interior and rents for 1,250 a month in the same area.One tenant base is typically a retiree with a pension and the other tenant is a worker with 2 jobs looking for space for their family without all the bells and whistles for a cheaper price.

I know a lot of investors in my area so I asked who his partner was. He

Again, the rehab process is wash, rinse, repeat.

The property is in decent shape but he wanted to wash his hands of it and not have to go through an eviction. 

Rents have come up quickly, but there are plenty of class A apartments that are around that price with a ton of amenities like dog washes, business centers, pools, package lockers, dog parks etc...and on site management and maintenance.   

We would like a beach front property (I have learned I want the it factor in a market), but I really don't want to see one be washed away.

What sort of acquisition model was he running?