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I would make a couple of suggestions based on my experience as a fellow investor and attorney:1.

When you don't, you are susceptible to being sold a property that looks like it has a correct valuation based on comps, but the comps (although they may be very close...even across the street) are not valid because they are not part of the micro-market.When you find/analyze for micro-markets, you are analyzing every property in that micro-market by default. 

For my future job, I can choose between Chicago, IL or Dallas, TX as my base. 

View report*This link comes directly from our calculators, based on information input by the member who posted.

View report*This link comes directly from our calculators, based on information input by the member who posted.

Get a hold of base legal.

William, You need to do the full math, as @Peter M. mentioned and did for you, the percent rules are just for quick analysis like he said. the percentage will analysis people usually use to help tell them if they want to run the numbers further on the property because it fits a certain % criteria. that's OK but does not fit every situation, what if you know the area is an up and coming hot spot and even if the % number is off - because the incoming rent is below market and you know that they will be going up - then the percentage rule will tell you to walk away and you would miss out on a property that a full analysis from the beginning would tell you to jump on that property because you would know that the rents were below market and that they are going up. forget the percent rules, learn the area you want to invest in, you will learn what the area does, the rent it gets and how much would be a good amount to purchase for based on the amount of rent you can collect for that property.

For single tenant net lease that is absolute NNN then yes an owner typically does nothing.For MTNL -multi tenant net lease then even though in many cases absolute NNN with base plus CAM you still gave to look out for CAM caps and large Capex expenses the owner would usually pay upfront and try to recover over time.For instance if you are buying a center looking at roof and parking lot are 2 big ones.

Based on what you've given us here, you might just as well ask if you should buy a car in this area.