If they were looking out for my best interest and knew that they tenant was moving out, they could have taken that opportunity to show me the unit.I had been told that Ready REI’s "contractors" had gone through the duplex including the occupied unit and deemed it move in ready, however the home had MANY issues, and the unit that the tenant moved out of was a complete dump that required a ton of work – much more work than Ready REI let on.

During your analysis did you include a percentage amount for vacancy, maintenance, and cap x?

Not legal or tax advice, but I think every subject to purchase should include a wrap mortgage so that you create notes receivable income.

It may or may not show on a credit report, depends on the servicing and you should have the loan serviced.Failure to include the debt on a future loan application is mortgage fraud, wanna go to jail?

There are a lot more things that occur as part of the contract that would be included including valuations for each parcel, specific tax consequences, proffers offered to the city etc. 

The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the 2025 bonus depreciation rate at 40%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.

On the lease, he'll pay me $100/m over my HELOC payment and all other expenses, including the refi cost, inspections, title work, etc... 

Be firm but fair, and don’t hesitate to ask about what’s included—like prep work and trim.

Many local businesses that operate in the downtown area by the state park (including some famous attractions) close for the winter or reduce hours.

If your property management company is good and has built an internal maintenance team which has set rates and had strong relationship relationships with licensed contractor which should keep costs in control, you should never need to shop contractors on your own I wouldn't think.So in short, our policy is give us your preferred contractors upfront if you have them, but then we work all tickets to resolution including dispatch, and payment of invoices.This is of course for operational expenses.