Structure as a commercial lease, 5+ years, annual rent escalations, requirement to carry liability insurance (name you as additional insured), etc.

Hey Chris, this sound like an awesome addition to a tool set.

good luck, let us know how it goes and if you need additional insights.

Instead of losing 55k they will probably only end up losing $25,000 - $30,000Long term its not a great cash flow property but with some renovations and addition of a parking slab I think long term appreciation is the big goal here.

Once you have read, underlined, highlighted and taken notes on that book, then I would move on to finding additional resources and groups.All the best! 

In addition, to factor in their debt load, I require the rent + monthly debt payments to be no more than 45% of their GROSS monthly income.

I moved to miami and it's tough to do here columbus land is cheap. lower than lenders even require our buyers have to come up with additional equity just to close the loan. not sure austin's economics but happy to look at a case study with you to see if it's feasible 

I have lived in Hawaii for many years but now that I’m a traveling healthcare provider, I am off island more often than not.When I’m not on contract I would love to have a place to return to and when I’m away I would love to rent it out for some additional income.

Do you mostly rely on your property management software, or do you have additional processes in place to keep things running smoothly?

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.