Hey @Theo HicksHere's my take the numbers are okay but if you have 500,000 to spend in Cincinnati market you could buy 6-7 turn key sfh or smaller 4 units and not have all your eges in one basket plus norwood is not the easiest place to deal with and depending on the side of norwood you have to be careful of the drug usages and the type of tents you will attract .

Give a written warning to stop usage in the garage and tell them within the letter where the use would be permitted (if necessary).

if you're aware of drug usage and something occurs at your apartment resulting in damage or injury and it was not disclosed to the other tenants you could be liable    You definitely need to get on top of that situation ASAP

All of this info is provided to us agents from our local real estate board.  

I recently bought a strip center in City of Gray, GA which is basically vacant with only 1 tenant, but the water and sewer bill was around 600$ (the usage was well within the allowed 2000 gallons for the base charge).

Mark Forest While I think taking a class is not a bad idea, I also do not think it is the best usage of your time.

I think it's on the cutting edge and maybe you command slightly higher rents because the tenants appreciate that concept.Sorry to hear your unit developed a leak, but that's a great idea on how to monitor usage and catch a leak!

I use my own percentages for vacancy, repairs, capex and management, then actuals for rest, although I do tweak fuel usage upward based on oil being 50% higher per gallon to give me some headroom. 

It's not clear to me if by "financing" you mean she is buying it and getting a mortgage, or if you are buying it and she will loan you the money.With the amount of usage you are looking at, you may run afoul of the personal usage rules if you own the property, but are using it so much personally.  

No one else will make them submit to thatDrug tests are weak indicators of drug usage and tenant responsibility. drug tests are pretty much only good at picking up marijuana, and to deny someone a living space because of marijuana use is just crazy imo.