And then there's the 1% rule (rent = 1% for property cost) Apart from these steps, what are the steps a pro does when they are in the market to buy rental property.

I mean these are deep rooted squatters in the community , they have weekend Cookouts and Neighborhood watch meetings and the whole 9 yards. ( Well maybe not the community watch meetings, But definitely cookouts. he Burgers were Delicious.)

I give people 20 bucks and tell them I'm buying burgers tonight.

You're effectively hiring yourself as a cleaning person - unless you're flipping burgers at McD's on the side, that is probably a downgrade for you.

With REI you can scale, burger flipping... not so much.

Tax losses are not always book losses.I look at it this way.With all of his jets, hotels, Burger Kings, Pizza Joints, book income, and that big shiny black Rolls Royce, whatever number ends up on the bottom line of his tax return is not a good indicator of his achievement--but rather it's an indicator of the work of (probably a bunch of) "Great Tax CPA's" (which so many people in here always ask for).And the rehab on that Old Post Office is impressive, truly an improvement to the neighborhood.

Burger flippers are actually going to pull down a much higher dollar per hour than agents working with out of state investors.Many of you know that I run a show called The MLS Search & Analysis Show.

If your a Jurassic slap-a$# like me, you fondly remember the most awesome Granny, calling out the all hype and 0 substance BS burger joint with the iconic phrase "WHERE'S THE BEEF?". 

Some examples currently under construction include a new town hall, a Burger King, gas station, as well as many of the apartment buildings going through full rehabs.

If it's single-purpose (like a drive thru burger joint), you only have historical $/SqFt.If it can be re-purposed easily, vanilla shell with zoning that can handle variety of tenant types, then I'd add some more to the empty $/SqFt.In any case, you're going to need to know sales comps.