Per rentroll, total rent $4,260, HOA $1203, annual property tax $5,600. there are 4 or 5 apartment complex in the area. this apartment complex is below the average and rent is relatively low as well. there are quite a few office building within walking distance.

@Ryan McGrath I think your first concern is to make sure it's a legal rooming house or to understand the steps that it will take to make it one - which I'll bet would include things like extra egresses and a sprinkler system.One incident / phone call / police visit where word gets back to the building inspector and you might find a big red "VIOLATION" sticker on your front door.Next, I'd want to do some forensic accounting. 

I told them if she can come into the office and sign Monday we can probably do the deal by the end of the week.What do you guys think?

I was tired of paying rent for my accounting practice and I found a vacant 4-office building with a huge parking lot (parking is a challenge in my town).

Interestingly enough, my first landlord when I moved to Omaha was a retired police officer.They Self ManageThis is the one area where I don't personally follow the standard 'Mom and Pop Investor' model.

He suggested to call the Assessor's office to get a real read on what the lift on property taxes will be like. 

The best I got was that one officer tried to find a loophole, and was not successful.

Can you please share with me the loan officer who will do this kind of loan?

Can your office provide the rates you have quoted?

We did this for two years, and every 12 months the lender had us submit a letter for "approval" to their main office.