Each state and local agency does have its own standards and rules and Seattle is definitely a different environment then Minnesota.

How to find properties, how to locate the owner, how to negotiate, building a buyer list, negotiating with the buyer, closing, etc.There's little point in fishing all day if you don't know how to reel the fish in, gut it, or cook it.

I will preface this with i bought it 2 years ago so before some of the craziness but it was during the pandemic and super low interest rate environment. 

A 16% IRR in todays environment with those fees seems very high or high risk.

The pandemic has created a unique environment for office spaces.

It seems like with the current interest rate environment and still competitive Richmond real estate market that MTR is a better way to cash flow today vs. a LTR. 

Not as high as fishing, but still very high.

Cap rate on sale - Using todays cap rate and not taking into account possible compression as a result of rising rate environment. 2.

It really brings to bear the regulatory environment in where you chose to invest as part of the diligence process.  

My passion for the environment and rebuilding the community ALWAYS comes first.