Wondering if that is a good rate for a car wash and also what other things should I be looking at for the structure and the lease itself.

I am currently in the process of refinancing two duplexes and my current portfolio is holding me back due to structure. 

Everything else has to be refreshed : Floors (carpeted, heavily spoiled and cat urine odor) Ceilings dry-wallWalls dry-wallElectrical is out of date (knot and tube all over, electrical panel needs replacement) Risks: Sanitization (cat urine smell, potential for pest problems)Structural integrity not checked (unable to check in a timely fashion due to deadline)Evidence of water damage on main floor ceiling, extent of damages unknownNo smell of mold in basement but knowing the city history of flooding, this is uncertainPlumbing looks recent but it was hard to be absolutely sure of this assertionThe reason I decided against in the end : too many unknowns.

Hey @Brandon EllisThe entity structure you are referring to is known as the Series LLC.

Just make sure there is no "structural issue" with the property or some issue that will drain you financially.Don't get analysis paralysis. 

However if you can truly only afford $450 then I don't know how you can structure it so that you can afford it and they can safely expect to get their money in a timely manner.

You'll have to know what's allowed in your zone and what the restrictions are.You may not be able to put a second dwelling on your lot or the lot may not be conducive to a new structure (e.g. need certain setbacks from the property line).Finally, is it worth it?

Its all in how you choose to structure the deal.   

They've been dressed up over the years with new roofs, vinyl sizing, replacement windows, etc. but it doesn't change that they're structurally inferior to conventional stick-built houses of the same age in other areas.

We have met with our CPA and been advised about business entity structure.