If your calculation makes sense investment wise for you make an offer based on your numbers.It is hard for the seller to completely manipulate the income of a commercial property, if your lender is thorough it will be revealed in the financing process. 

Will report on what I get.Representative is very definite about ability to close in 20 days.

TX is only $300 or so of fees in the first year of the LLC, but then requires an annual report that someone needs to file. 

Sadly, in spite of quite a few comments on this forum, many are clueless with regard to understanding or evaluating the numbers; and rarely take the time to look at monthly financial reports beyond what their Net Rental payment is.

Tenants never water like you would and they often don't report issues like you would see. 

The ratio itself matters little until compared to surrounding areas, only then revealing which areas are more or less desirable than others. 

Lockbox installationKey duplication, meeting locksmiths, digital lock code changesMeeting cleaners, landscapers, tradespeopleProperty walk-throughs via phone and/or video conferencing Move-in and move-out inspectionsPlacing signage on propertiesPhotos and videosProperty description copy writingScheduling contractors and tradespeople for vacant propertiesStatus reports on contractor/tradespeople progressProperty drive byMail pickupDocument delivery

The judgment is on their credit report, but you'll never see the money.

Nobody got 'cheated', everyone was happy with the transaction, but after the fact, he was reported and fined and faced other penalties.

Before that we used our 'day job' system which is Sage, but it is way overkill for rentals and doesn't give us a lot of property specific reports either.