There are lots of due diligence items to complete to make sure permissions and titles are in order.  

Unfortunately as good as TurboTax and other online softwares are, they don't always pick up the most beneficial items with rentals.

., laundry facilities, pet fees).Fixed Expenses: Include mortgage payments, property taxes, insurance, and property management fees.Variable Expenses: Include repairs, maintenance, utilities, and any unexpected costs.Capital Expenditures: Set aside a portion for future big-ticket items (e.g., roof replacement, appliance upgrades) as a reserve.3.

  $50/sqft for a full interior and functional update, $100/sqft for a full gut down to studs, $150/sqft for newcon .If these numbers make sense I would want to visit the property for a true estimate, where it would be line item work scope development. 

You made a great point that I find carries over here to the forums.

If you are interested, you can request to meet with them and/or submit an LOI detailing your offer on price, financing options, terms, and other items related to the purchase.If accepted, request Tax Returns for this business, and have an Accountant(reach out to me if you are looking for help with the Analytics of a business purchase) compare their financials to the Tax Return.

., 900 SQ FT is TINY, I live 10 min from there and will not touch it .36k gross so about 20k net, ( MAX ) all in 375k, TERRIBLE deal 4% net , again terrible   Actually, the net will be less, Insurance will be about 10k, On top of the 6kish in taxes, and other items. 

Plus you will need to carry your own team or be in good with sub contractors which means you need volume.  

On Tuesday I called in for an update and was told that Don "couldn't get comfortable" with the loan due to several items, all of which were provided and discussed via email over 4 weeks prior.  

So I figured that if I could avoid negative cash flow, the other two sources would carry us until rates declined and we could refinance to lower interest expenses.