To the point that all you do is supply the funds to get things started then sit back. 

High demand and low supply means high prices.I'd like to buy some more properties here, and am ready to do so, but the deals look about like the one you describe. 

A fixed-rate debt is far less variable and thus safer than floating-rate debt.

I recommend you put in what you want and then at what point you are willing to walk away and the beginning and stick with it.Most markets are seeing pricing increase because we have a temporary decline in supply (people aren't selling because they don't want people in their house) - however many markets are seeing a decline in buyers also (just not as much as the decline in supply). 

(Appliances were supplied by landlord and are old and cheap).

I also have a backup power supply for the modem, mainly to keep the telephone line working, so the fire alarm can always send an alarm during a power failure.  

The rate turns variable after the 12-month period.

Lots more folks doing 100% grassfed/finished, certified organic, wagyu/wagyu crosses, longhorns/longhorn crosses, bison, farm-to-table supply, et cetera than in years past.

@Michael BishopI will definitely reach out to current investors of the Sponser/Operators, if they would supply that.

But since I live so close there isn't much I can write off other than supplies for the actual property or repairs, etc.