Quote from @Collin Hays: Quote from @Jay Hinrichs: t in those streams can one fly fish ?? 

Quote from @Sherry T.: I would get some local people in the area (neighbors) etc. see what they say, and see if this company did the same thing for them.. 3 year contract with the buy out too.

Don't listen to middlemen property managers trying to make their job seem harder then it is; they want your business. lolIMO the property management industry is about to be disrupted, think printing press, Model-T, the internet, ai...I've been self-managing my rentals from Iraq for over a decade.

Thanks @Lauren T. and @David M. for replying.It turned out that in California you don't need to mention the naics code while filling the llc.

I think @Brian G. and @Jaycee Greene hit it on the head: an event occurring/debt resetting.When the debt forcefully resets on some of these assets, valuations drop if the submarket cap rate has expanded and/or if the operator can not show a good t-3, t-6 etc due to economic vacancy and rising opex (insurance, r&m etc).If the operator can't inject equity to cover the difference, then trouble arises.

@John T. , yup..no restrictions

Now with that said, if your property is, for example, on a busy highway or street... you should be putting the vast majority of your marketing dollars on "curb appeal and signage", as opposed t a full page advertisement or fancy website .  

@Chris T.

Their salesmen calls you hounding you to buy so far they don’t have a great way to filter out opportunities at t seems.  

If you don't have a lien, and the appraisal comes in lower, then you are capped at 75% rather than 80% on a R&T which might leave your PML a little shortOtherwise, it might just be "cross your fingers and hope for higher appraisal" category.