Originally posted by @Jenning Yu:The problem with your numbers is that on the life insurance side you only considered the return produced by the new loan each year.You forgot to reinvest the profit from the prior year return.So in year two, you are taking a loan of $81,090 but the return will be $8,568 because the 10% return was not only on the $81,090 but on the $81,090 +$4,590 that was left over from the prior year.I made a better spreadsheet with also accounting for taxes.Cash value: 85% of the premiumLife insurance return: 6%Loan value: 90% of cash valueLoan rate: 4%Tax rate: flat 20%If the outside investment return is 10%, the insurance + investment overpass the investment in year 9.at 15% return, it will be on year 15.at 18% it will be on year 29,at 20% you'll probably be dead before :-(.Now if the life insurance return is 8%,if the outside investment return is 20% the life insurance overpass the investment only in year 8at 25% it will be year 11.at 28% it will be year 18at 29% it will be year 25at 30% you'll be dead before.Of course, a higher tax rate will favor the insurance side.

They're only required to repay you for health, safety, preservation of the property....fixing broken windows, roof leaks, locks, etc.#3. 

Building is in great shape - metal siding, metal roof, new HVAC unit in 2018.

Get 100-200 agents paying a flat fee.Have you built out your model yet to see how many agents you need?

They never cover roofs. 

On large repairs like a roof replacement I would still want to get a bid of my own.It comes down to trust, if you don't have that trust with your PM then you might shop for another PM.

These expenditures are capitalized, meaning they are added to the property's basis and depreciated over time.Examples of Capital ExpendituresBuilding Additions: Adding a new room, deck, or other structural improvements.Major Renovations: Remodeling a kitchen or bathroom, replacing the roof, or significant electrical and plumbing upgrades.Appliance Replacement: Installing new HVAC systems, water heaters, or other major appliances.Structural Repairs: Replacing the foundation or significant repairs to the building’s structure.Labor CostsLabor Costs: The costs paid to contractors, electricians, plumbers, carpenters, and other professionals involved in the renovation are part of capital expenditures.Example of Capital Expenditures with LaborSuppose you renovate a rental property, including a new kitchen and bathroom.Materials: $15,000Labor Costs: $10,000Total Capital Expenditure: $25,000This $25,000 would be capitalized and added to the property's basis.

Late fees are flat fee charges while the 10% will be against any unpaid rental amounts.It appears that the actual unpaid rent has been satisfied now, this is why those funds collected were applied to the late fees next.

Decent Data quality and unlimited records for 1 flat price.

$200k is a lot of money if you are in a flat market.