Hello experts,found an interesting retail/office (commercial) unit in a great location (A+) and since this is my first commercial unit, I wanted to review the numbers and get advice on what to look out for.List Price: $199,000Gross Area: 2035Net leasable Area: 1830Monthly Rent: ~$2500/monthEstimated CAM/sf: $1.15Tax: $9777Cap Rate: 7.6% Cash ROI (assuming cash purchase): 11.71%Is there something else I should be considering?

My question revolves around the legalality of Open Hold Titles.

It is your own personal revolving bank account.

The broker I am working with has told me to leave $5 on my credit card account rolling every month, and it will help me to boost my score more quickly because I will have more revolving credit.

It shows if they have any revolving debts, installment accounts, credit scores, collections, delinquent accounts and much more.  

In fact, the federal government considers single-member LLCs disregarded entities, meaning for federal tax purposes they do not exist.There are benefits to having an LLC, but those primarily revolve around limited liability protection.Until you own a property, I wouldn’t set up an LLC.

The barrier to entry is low in this industry and with 14K+ agents in Chicago its a constant revolving door.

This is the single biggest mistake I see new investors make and it revolves around saving postage.We use a plain windowed #10 envelope with a business return address which contains a cover letter and an attached offer and space for the seller’s signature.

I would prepare the house for getting appraisal done to either pull a refinance or a good HELOC(revolving preferably) to go purchase some more properties.

You take out vacancy factor for the area and expected rents per sq ft and CAM to get to your cap rate to cost.That is your break even.