This one sentence implies you have rental real estate, and if you are paying taxes on your cash flow, one of three things has to be true:You have owned them for a very long time so have used up all the depreciationYou paid cash or paid off the mortgage so the depreciation you have cannot possibly cover the cash flowYou have purchased an asset with very little that can be depreciated. 

Are you implying that real estate investors don’t use percentages to measure return??

Low cap rate in the case of NYC, implies a long track record of historical appreciation, minimal risk, etc.People who invest in New York (or other low cap areas) do not do it because they are expecting a lower return than higher cap areas. 

As the name implies this is infrastructure. 

I mention that to further imply that the 1% rule is next to meaningless.  

If you took cash out of the deal, that is allocated separately.If you are saying that all four properties are now owned by your LLC, that implies she gave up her share.

Is this also implying I get an appraisal BEFORE an inspection?

Is this also implying I get an appraisal BEFORE an inspection?

Is this also implying I get an appraisal BEFORE an inspection?

@John Mocker so when he says he is renting the garage to someone who is not a tenant implies this is  a rental property already.