Dont be obsessed with short changing them.  8- 10% for a decent property excluding leasing.  7. 

And there is clearly an "intent" factor w.r.t. how your investments are treated, as our CPA pointed out when we were dealing with our repo house last year.Nevertheless, there seems to be a good argument that "flipping notes" isn't much different than day trading stocks and should get the same treatment.Rents from rental properties are specifically excluded from UBIT by the IRS.

If you are not doing that then you are standing still.Sophisticated investors re-leverage after their return on equity goes down.Cash on Cash Return on Investment (COC Return)The pre-tax year-end cash flow divided by the actual amount of original investment you have invested.COC is used to compare your investment with other options excluding factions such as the use of leverage (mortgage), taxes, appreciation over time, and mortgage paydown over time.

B class apartments (exclude movement from owner to renter because there is also renter to owner).

  #2 - Most professionally managed properties exclude individuals with evictions on their record. 

. $1M asset excluding primary residence or $200k income in the last couple of years if you are single, $300k if you are married.

A property transitioning at death only maintains its property tax base if it was primary residence of the deceased and is to be the primary residence of one of the deceased children (excluding agriculture/farms).

Education in the syndication space is different (dream sellers excluded and there are some) because you are already successful in real estate and you are just looking for some knowledge to bridge the gap to the next phase of your career.

Leases can be an issue as Fannie Mae exclude them from appraisal, but Fannie Mae explicitly include owned (even financed) systems.

One interesting thing to note as someone that lives and invests in Grand Rapids is that we've been making top lists like this a lot in the last few years, but we're usually excluded from the ones that limit the discussion to the "50 largest markets".