Purchase price 109000, total rents 1350$/month. 250$/month cashflow after all operating expenses.1.

What is the structure we operate in?

There is a lot you will need to know about the property to determine if it is a good deal for you or not though to include:- rent history - vacancy rate- current lease terms- expenses (operating expenses, insurance, taxes, etc) - market value of the property- property conditionOnce you know more you can apply the 50% rule to determine what the long term expenses will be.

Don't have a expense item for property taxes (that's what the assessor is estimating so he doesn't take property taxes as an operating expense.

He put posts underneath, bolted the thing down to survive storms and has a foundation.

Once I assessed the operating costs of our HP's I gave them away.I have Brother Laser-Jets all-in-ones.

I am not talented in his areas of expertise.William, I have found that many but not not ALL RE agents hate investors operating on the premise that the investor is signing documents as a principal and assigning or selling their interests.Bill Gulley states why RE Brokers are concerned, especially for Errors and Omissions issues.

The adjoining business actually has 5 contiguous lots on the next street over. 3 (zoned for business) contain the existing business operations and their parking.

You may buy it at $7,000 but it really needs the $20-$25,000 in repairs to secure the property not to mention reduce your liablity (the roof is in terrible shape and I wouldn't want a tenant living underneath it).

Glad you are back at it.If you are taking on an investor/partner, then you want to structure the LLC with the correct operating agreement.