This number isnt taking rent increases into account.Looks pretty ok on paper (unless I'm missing something and it doesn't)The breakdown for your first example would have the sponsor (who I'm assuming is me in this scenario) receiving:Acquisition fee: $1,750Asset MGMT Fee: $672 80/20 split when sold in 10 years: around 25KAnd since this is a smaller deal a more basic approach of 70/30: 4895/2098 or 8% back to investor annuallyDoes this seem to check out?

I didn't hire professional inspectors in my deal, but only brought over my regular repair guys to help inspect (structural, roofing, etc)as for management software, I use easy self storage too and I agree with comments above that it's a good fit for small/medium facility given consideration of their cost vs. value. some others like sitelink and storEdge have quite more cool features but you pay for that premium. another factor for me to go with easy self storage is the competitive rate from merchant account provider they partners with that you use for your website's credit card processing. their call center feature is very nice to have additionif you need that.

So I brought the house with out a dollar out of my pocket.

If you've got some self-important folks who are puffed up with their own power and ego, they'll likely go another.Here's how I would approach this:1. 

The conservative approach is not to proceed since you already put down non retirement account funds.

The inspection brought to light many more expenses than we had anticipated: chimney collecting water and needs replaced, roof needs replaced, even decking is wet and needs replaced, insulation is wet and needs replaced, and drywall will need replaced.

Hello Family: Q-A,This is a question to our most seasoned or experienced investors.How would I deal with an Investorthat have houses to unload.Thehouses range between 200k-400k or above,could thesehouses be a Possible flipp,or would I have to get some form ofInstitutional /Hard Money Lending to submit a deal,,What'sthe best approach to this organization????

You never brought the rent into income since you are presumably a cash basis reporting taxpayer, so not having taken it into income you would have no basis to declare a loss.

I would hear the sob stories that tenants would approach my parents with and my parents would always "work" things out with their tenants.  

I was approached last week by a nice young couple from Latin America who are getting advanced degrees.