Real estate rentals are not really considered "businesses" in some sense because virtually all the value is in the equity of the real estate.

The challenge of it is going to be finding a property that makes financial sense.

Sounds like you have both so use those ratios to guide you on what do to.Hope all of that makes sense.

Most of the stuff is "common sense" and most of the important things are covered in the lease.  

Things like valet trash, cable contract reimbursements, RUBs, common area expense budgeting, proper staffing levels, AI revenue management, PPMs, subscription agreements, blue sky filings, commercial lending standards, commercial building codes and permitting, ADA compliance, etc.  

BRRRR is a common method for this very reason.

I believe it is more common practice for your local bank’s commercial programs to only offer 5-year terms on 25 year ams.

I am often retained to vet syndications on behalf of LP's and a common red flag I come across are syndications where the distributions are merely a return of over raised capital.

There are many sellers right now testing the waters with prices that typically don't make sense with today's rates.That being said, there is also a psychology behind pricing properties to create true interest and demand.  

I guess because it makes sense to me.