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Updated about 8 years ago,
Something Not Adding Up
So, it is a commerical property. It has 4 units but currently two businesses: one used 3 spaces- the other the remaining.
$1917 rent from tenant 1
$800 rent from tenant 2 who pays all water. (Long term tenant whose rent has mot increased in 15 years)
Insurance and tax currently paid by owner.
Needs a 30k new roof.
Maint: $1600 annual
365k for sales price
Tax on that price would be $8600 annually
Insurance $3400 annually
Question: Should I evaluate this deal from how I would structure rents and payments? I see not profit from the current set up of rents and the other arrangement of tax and insurance.
What am I missing here?