You experience will serve you well as you look to start fresh and operate from a more professional level.

They'll first calculate average Net Operating Income, computed by property, from the previous two years tax returns.

For quick evaluations, you can use the 50% rule which states that 50% of your gross rent will go towards expenses (operating, capital, and vacany).

I'd read through all the laws pertaining to your operation.

,Is this LLC operating as an S-corp or as a sole proprietor?

Are you referring to start-up costs or operating costs?

That said, it looks like the operating expenses you're assuming aren't too far off.The one big item I'd add into the "expense" category (though technically not an expense in accounting terms) is capital costs -- these are the long-term costs you'll face to keep the property well maintained.

To raise new capital in order to comply with regulatory capital standards, those banks would have to attract capital from the capital markets and probably pay a higher rate than those banks that made good loans and did not incur losses.An analogy would be what you as an experienced real estate investor pay in interest for loans versus a novice RE investor who paid back the loan on the first deal with several late payments.

Is this within the scope of your LLC operating agreement?

It just takes time to learn enough where you don't lose your shirt, IMO.Financing is a big hurrdle, complying with the wishes of the neighbors and community, some can't get past the city council or building regs folks as they are frankly, scared to have a new developer fail and leave a mess.