I manage Short and long term rentals.

Why do you think purchase contracts are so long and have such small print?

I gave the number to the code enforcer in hopes they respond to him  You're probably right, the old PM may be long gone.

As long as you qualify for the loan independently of the funds used as the GAP funding, most lenders shouldn't have an issue.

I'm not claiming that running this outfit is passive investing, not by a long shot.

One, is the long, drawn out method by which you get the other party “invested”; time wise as well as emotionally in concluding the deal.  

-If not, then I wouldn't add $100k of 'Value' to the property just for having an established Pizzeria, since as a simple landlord, it all breaks down into the return calculations above (hinging on rent/mo from your tenants, whoever they are) which at your current estimates would leave you under-returning compared to a money-market account earning 5%.Now keep in mind, I have been discussing the long-term hold return of this investment.

It is not small, it is a very long and wide beach.

@Jimmy Johnson rentometer is pretty good as long as you know it lumps together duplexes, luxury apartments, SFR's etc. make sure to only compare the comps that are like to the building you have. 

For example, the unemployment rate, relatively low, is 6.5% versus MA's 3.5%It's been a long time since I was more familiar with Springfield, so I'm not sure about the impact of the casino.In general, similar to other working class cities like Fitchburg, in Springfield I'd imagine you'd fine the following conditions:- Attractive Cap rates- Medium vacancy- You're paying a realtor or property management company to find tenants (in higher end cities the tenants pay the realtor fee)- Section 8 tenants -- could be a negative or positive, depending on your view.