It's public record and I go once a week to the court house in the probate department and ask for the recent probate cases for the past seven days.

I suspect that it adds about 50% of cost to the value of the place so true cost is reduced.  

At least read the updated guidelines from 2012 from the CA Dept. of Consumer Affairs:http://www.dca.ca.gov/publications/landlordbook/catenant.pdf

There's a lot of potential in this deal if I buy it right, because in addition to negotiating down the penalty for the code violations it is also way over assessed, and I can appeal to the tax board to dramatically reduce the taxes because it is outside of the statutory 15% wiggle room they're allowed on the assessment value. 

Same old agent routine (because it seems to work I guess), tell the owner the inflated value "they want to hear", then start blaming the market and trying to reduce the asking price a couple of weeks after listing it.  

Therefore, there was a public notice and probably a hearing at the zoning board.  

Regarding the after pref split (whatever it is) is that additional interest so let's say they are making a 12% conc return instead of 8 and their principal stays the same or do such payments go toward  reducing the principal? 

It eventually comes out they negotiated a deal for reduced fees blah, blah, blah.Some places do not need PM as much but they tend to be in affluent residential areas with very little cash flow but stronger tenants.As a PM company you will have to GRADE the type of area and tenant your client wants you to manage.

My inclination is neither should be included in my assessment of CR and they should be included in COC as they would reduce year 1 COC but not subsequent years COC.  

I watch his video and it sound like he has all information about finding PVT money from public record as well as scc compliance with how to contact them, how pvt investor magically says yes.