I should look into getting an external property manager for a minimal fee even though I do most of the work.Being beneficiaries of IRA, we cannot possibly 100% contract things out.

I am just trying to minimize their ability to be wasteful.

Even if the expenses you list are correct (and I would be a little skeptical about the minimal cost for maintenance), I believe there are a number of costs you may have overlooked:Property insuranceLeasing costs (advertising and/or commissions)Grounds maintenance (lawn, snow removal?)

I also had to show the LLC's were in good standing, right back to the newspaper publishing of their creation(s).I got the feeling that because the audit was only giving her a minimal amount she was pushing it into different directions.

I am looking at the closing costs for my loan, while they aren't horrible I want to minimize my cost of money if possible.

Sadly a mass of the population of investors does not.So if I am buying a 150 unit and I have calculated for a full time repair person,professional management company, and do not have extensive mitigated CAPEX going in, and I have records for the last 3 years showing stability then YES involvement can be minimal with the right team in place.A Walgreens and an apartment are totally different animals.Walgreens -BBB investment grade credit or better.*25 year primary lease on most*New product sells for about a 5.25% to 6.5% cap depending on desirability of location (rural, suburban, urban) If you have to obtain financing the DCSR is usually 1.01 and the finance is about 10 to 15% down.

I am just vary excited to be getting started and want to minimize my mistakes as much as possible.

Luckily, we have a great lender and attorney who will be charging us minimal fees to make this happen.

You can still get a sense of how the property will perform year-to-year and whether it looks like the proceeds from the eventual resale will justify holding the property with what may be a minimal cash flow.

Their risk, OTOH, is minimal.