As a PM, I collect all rents, pay all expenses, and distribute the remainder on a monthly basis.

(1) If it's an inherited property you should have received a stepped up basis. 

I like worcester because i am there every day. 

If you convince him about the long term health of your shop he could cut you a break on rent for the next few years and have it grow a few basis points above inflation once you have your feet under you. 

@Brie Schmidt If you are planning on doing private lending on at least a semi-regular basis, consider a subscription to TLOxp.

On a regular basis my wife and I spend about 3 hours a week “managing” those properties.

I come from a long line of restaurant operators and chefs (I chef around on a daily basis), and have been dreaming up restaurant concepts ever since I was a kid. 

People are flipping everyday, and there are a few legit wholesalers out there.

Foot basis.

Type in your listing comps and see what those listings are renting for on a nightly basis.