Turnkey operations are an excellent way to minimize headaches and begin Cash Flowing the day you purchase your property.

If the property is fully leased and operating well, like your situation, the numbers might not make sense.A few questions to think about....Deferred maintenance or layout issues: If you already need significant updates, the conversion might be a good opportunity to reconfigure the space.

And dont get me started with gas meter upgrade requirements if its near a source of ignition or under an operable window.

It can be a great win-win, simply by bisecting the property and hosting operation.

It is time for us to modernize our practices.We are a fairly basic operator/developer with a few 3-4 unit buildings.

GoodbudgetWhat makes it unique: The Goodbudget app uses the popular envelope budgeting system, which allocates portions of your monthly income to virtual envelopes, or expense categories, like groceries, gas, debt payoff, etc.

Anyone who has actually been active in this space will know that borrower behavior can be predictable and irrational, and they might have a fundamentally different mode of operating their life than you do.

With NNN there is no reduction from operating expenses so monthly NNN x12 should equal NOI. 

On top of that, you’ll want to budget for ongoing expenses like property taxes, insurance, operational costs (such as utilities and property management), and maintenance.

- How would one run the numbers on a mid term rental when it comes to startup costs, rental rates, and operating costs?