I know of a vast amount of bank owned and auctioned properties if you are interested.I have rented property in one day's time by listing on free websites such as rentlinx.com, forrentbyowner.com and backpage.com.Since you have one bedroom apartments, have you considered making it a senior citizen building?

I can now say unequivocally this is total hogwash.Slides 2 and 3 are sufficient.

It's easier, quicker and MORE WORTHWHILE to just study this forum every day (including the archives).OTOH a basic "real estate contracts" course through your local community college would be a good starting point.BTW, I've never taken any courses so I can't speak to the quality/validity of them, but most people that buy the courses never complete them, at least that's what I've concluded from the vast numbers of them gathering dust in closets and under beds.all cash

That's why the vast majority of newbies fail in this business.

My friends brought me into the loop because they did not have sufficient equity capital to complete transaction.

Terry - While I appreciate your feedback, the vast majority of our members prefer having the topics split as they currently are.

Failing to account for the real world operating expenses is the NUMBER 1 reason that the vast majority of newbies fail.

3) in terms of risk/reward, how much do you think I could get for the NNN lease income on such a property - would my example of increasing the on-site manager's income from $60K to $110K be sufficient reward for the additional risk they take on with regard to vacancies and maintenance expenses?

I would say it is having such a vast amount of money that you never have to worry about money again....that you don't have to worry if a property goes vacant because you have enough cash to cover the vacancy.It means you are secure enough to survive the tough times in the business.

I am sure you will find a vast array of information, tools and knowledge here.