Unexpected (and often costly) issues can and will arise with rentals—everything from clogged toilets, flooded basements, and burst water heaters, to disgruntled tenants refusing to pay before skipping town.7. 

It usually cost 1k-5k to fix issues that arise during the inspection.My contractors complain that its tough to have to wait indefinitely until the house is sold.

I would examine carefully this route.Plus, in some instance, even with your license own by an LLC it won't protect the asset if any issues arise.

I'm inclined to explicitly include this in our lease as a proactive measure and to ensure it's discussed at the time of lease signing with a new tenant, rather than the tenant being caught off guard should the issue arise, stoke anger and ultimately instigate a tenant to damage our property. 

I appreciate it is a non performing asset at the moment, but still it seem like, it seems like a big gap to bridge in a rising market

Hi Alan,My colleague Matt Coates who specializes in Convenience Stores has an answer to your question:Pros – advantage of utilizing accelerated depreciation (consult with your accountant before making an investment decision based on this); e-commerce proof (no one is going to get gas delivered to their front door; even if they did, they would pay a substantially premium for it, not to mention the purchased gas would likely be coming from the gas station anyway); recession proof; generally well-located assetsCons – potential environmental issues (some tenants are, per the lease in place with the Landlord, responsible for any potential environmental issues that may arise; e.g. 7-Eleven); highly competitive market; usually pay above market rents due to potential of ground contamination down the line (therefore, if the tenant vacates the site, you would likely be faced with a situation where you could not replace the rent)Also, Matt Coates said he would be happy to speak with you over the phone about any questions you have about investing in convenience stores and gas stations, so feel free to reach out to me and I can give you his contact information.

Saying "your company" implies you aren't an employee of the owner, and asking implies you are not a licensee, otherwise you'd know the answer, so your first issue is managing properties without a license, might think it's not an issue, just another law getting in the way, but it can matter when issues arise with tenants.State law may require an escrow account, as the funds are not yours.

They will take money when they have it but will dump dogs and takes losses when better opportunities arise. 

The issues arise more if you buy it thinking will later on use as a rental and then they change the rules.

If you are able to handle some of them a while longer without going crazy, maybe start with one building under management, see if it's what you want as far as lightening your load (it's been my experience that if you don't find a good one, which you won't actually know until issues arise, managing the manager can be as taxing as just calling repairmen yourself), then negotiate to add the others later.