The rental income from the 3 units alone completely covers the cost of the mortgage so if we were to rent out the unit we reside in, I estimate we'd have a surplus of $1400 a month accounting for an avg. of $500 put aside for monthly maintenance expenses.  

You've picked a good time to jump into the real estate business and the area you're in is great as well.

The other thing to factor in is how much money needs to be put into the space for a new tenant, even if it's another food service, and is the future tenant expecting you to subsidize some of that tenant improvement cost?

This budget is based on the bid from my contractor with an allowance budgeted in.  I

I have a couple of properties I am currently interested in.  I

The only thing you have not factored in is during a recession, a lot of people LOSE their JOBS which result in rents DECREASING and vacancies increasing.Having said that, if your cashflow is healthy now, during a recession, your cashflow will decrease and might even be $0.

I went to a seminar on wholesaling over 10 years ago, put the fees on a credit card, and had about $500 left and no income coming in.  I

@Antonio Coleman @Jeb Brilliant and others, please weigh in. I

I wanted to introduce myself and say hi.My name is Aaron and I am from Hobart, INI have seen a number of posts from fellow investors around my area (Hammond, Schererville, Chicago, etc...).  

Why not offer some encouraging advice or just find another forum to participate in.  I