Currently you'd be paying 10%/y, but is that intended to be completely interest-free (paid off after ten years), interest-only (still owing $30k after 10 years), or, in between?

If someone builds a new multi-unit building that costs X amount and the town in which it is built dictates the rental income for the structure is X - Y then how would someone get approved for the construction loan in the first place?

There is a lot of information you can read all about buying for X and wholesaling it for Y with your profit being the difference. 

If you read that 100 pages of crap, it can be summarized as "I'm going to do x, y, z, a, b, and c, or pay you off in full."

Currently, I have a triple net lease so I am paying the CAM/taxes on the entire property since the billboard is listed as a temporary structure.

Meme s'il y a une groupe en francais, ce me plaira. 

Originally posted by @Jim Y.

So, I tell the seller: I will list it for x or buy it for y.

Of course, you can choose your own method, but, I'd still guess that $980/y is too low!

Get a professional tenant and you could be in for death by a thousand cuts. 2) Not knowing your numbers - If you buy with the wrong numbers you can get in trouble quick. if you just assume that you buy for X rent for Y and pay Z in mortgage, insurance and taxes you will be in for a big suprise when things start breaking etc. turning your good investment into a money trap3) Related to number 2 and a fairly common one if you spend all your profits and don't reserve when suprises hit you will not have enough money to cover it4) Not keeping up the property - No one wants to live in a dump, a slum lord attracts slum lord tenants and this can eventually catch up to you5) Speculating  - This could go very well or very bad.