The bottom line is landlords and tenants are people, and both have their quirks.

Structure it incorrectly and there can be a tax DISADVANTAGE though!

The capitalist market is remarkably efficient in correcting pricing errors (outside of a monopoly, that is).If no one is willing to purchase that property for $250,000, it won't sell for that price.

It is also inaccurate if the rents are priced incorrectly one way or the other.

Or did you read this thread incorrectly?

I would never own a property and rent for $32.00 a month profit.Unless I read your post incorrectly, I wouldn't touch this deal or touch it, but at a much reduced price.

Again I apologize if any of my information is incorrect, I'm still learning myself!

Get it permitted and done right.Also, you're doing something that throws a lot of moisture into the air, vent it incorrectly and you could have a serious moisture and mold problem down the road.Get someone that really knows their stuff, this is NOT amateur hour.all cash

That is simply incorrect.

Build in a fudge factor to protect yourself if the data proves to be incorrect or the market changes.