Monthly rent Yearly Rent Rent tenant1 $4,461.78 $53,541.36 tenant2 $3,605.33 $43,263.96 tenant3 $466.67 $5,600.04 tenant4 $2,075.93 $24,911.16 (numbers don't show recent increase tenant5 $575.00 $6,900.00 JUST INCREASED to $775 per month for 2 yrs $9,300 per yr Total Revenue $134,216.52 (now $136,616.52) tenant1 pays 50% triple net expense Taxes $13,659.34 $6,829.67 Insurance $4,400.00 $2,200.00 Water $434.62 $217.31 Snow $4,400.00 $2,200.00 gas1 $2,706.71 $0.00 gas2 $1,878.43 $939.22 electric1 $2,356.67 $0.00 electric3 $5,948.77 $2,974.39 Mgr., Clean, Maint. $13,659.00 $2,044.00 Total reimbursement Income-tenant1 $ 17,404.00 Total Income $151,621.11 ( $154,021.11 now) Total Expenses $51,657.52 Total Income Less Expenses $99,963.59 ($102,363.59 now)tenant1 Lease Ending 11-11’ + 5yr option, 10-20% incr. based on CPI (been there for 60+ years and one of the state's best locations- perfect long term tenant) Tenant2 Lease Ending 08-11’ + 3 yr option, 10-20% incr., CPI, again long term tenant !.

I am in the Berkeley this weekend... what you need to realize is that NOTHING that you would think is standard in Livermore ( IE SF BAY AREA) will be standard out in the mid west.. at least as it relates to 90% of what these folks talk about in the way of cash flow rentals.. its apples and oranges.. your in a triple A market not even A.. and when you read on BP about no appliances etc. those are C D some think B  but its not a California B most of the homes and the RENTERS would  be a CA F plane and simple.. no way for you to rationalize what you would have in Livermore and what is standard in the mid west...

For example, if you invest in triple net leases with the tenant is responsible for everything (maintenance, taxes, insurance, etc.) it can be very easy to manage.

I am no to commercial realestate me and my fiance and the process of buying a 8 family apartment building the seller is doing sellers financing and is talking to was about doing a land contract and a triple N lease we are new to this and we don't understand all of it we've looked into some of it I would like to know if there's anything else we should be doing or talking about

Then insulate with minimum R19 and have air gaps above and below the insulation, and finally hang double or even triple layers of thick sheet rock on the ceiling, like this:Even with all that done, your sound barrier is only as good as it's weakest point.

Though I know some folks who do allow for people with evictions, but they charge double or triple deposit, and generally that is acceptable to the tenant as a cost of doing business.

So to some extend you have to pick between bad, not so good and worse:).I always try to get a double or even triple deposit if I can before they move in if there is any reason there might be an issue.

If you can find reason to request a triple-deposit - go for it. 

Here are a few other NOI increasing tactics that haven't been mentioned:- Charge for parking- Charge for late fees- Charge for application fees- Charge more for more desirable units (e.g. 3rd floor vs. 1st floor)- Reduce electric bill with motion sensor lights- Seek triple bids for vendor costs- Reduce maintenance costs by replacing all light bulbs with high-efficiency bulbs- Charge a move-in / cleaning fee - Contest your tax bills@Douglass Benson @Bill Thompson @Gino Barbaro Have all listed some really good ideas. 

Because of that failure on their part, you might get double or triple your deposit as the penalty.