I'm trying to figure out a way to utilize a large storage building at one of my MTR listings in Memphis.

Why can't we have one, especially if we could have permitted separate utilities?

Biggest lesson here for everyone is NOT to include utilities EVER!!!!!

.- To utilize the Mills Act requires a few things: An application (not free), inspections, and most importantly a contract with the city in which you promise to rehab and maintain the historic nature of the property.- The inspections are only 5 years, but tenants are not likely to take care of them home as well as you, and refurbishing hardwood, lath and plaster, and anything else is going to be much more expensive than the typical Landlord special (white paint, and grey LVP)It will all come down to making your numbers work.

But then after finding something I'm interested in, I usually have to do more evaluation on a spreadsheet (find out a cap rate, figure out potential rent, interest calculation, utilities, property taxes, wear and tear, depreciation, etc) and then find that the numbers don't work out.It would be great if there was a tool that had all that information in one place, and would do the analysis instantly!

It would cost me only $2300 per month which includes rent utilities furnishing and property management. she showed me one example only of a customer who profited greatly.

However, don't have any of those loans anymore (most paid off).The only thing I do that you don't, is use trusts, and love them and they have saved my bacon a number of times.When you said all those loans have paid off, are you utilizing other methods than Sub2 at this time?

I specialize in small multifamily properties and house hacking working alongside BiggerPockets podcast guest Andrew Freed to help investors find high-performing deals in Central MA.My Background:  - Started in late 2019 I utilized an FHA loan to get my first 3 family property in Fitchburg, spent about a year fixing it up and soon after I refinanced. 

The property was occupied (still is) with 1 tenant that I am now having the exhausting pleasure of evicting. 2yrs later, said tenant continues to try every angle to delay the court granted Marshall’s execution.The “2nd” floor was poorly renovated (bad contractors), new tenant moved in and a year later, another eviction process has started as they lost their job and refuse to move or pay.Stuck with a very large mortgage bill (that I am paying), utilities and making small repairs to keep the property up also noting the casual 311 complaints from both tenants. 

A good property management company will utilize market focused tools and systems to market the property while using automated systems to manage the property in a seamless manner.