There was gas already into the house for the oven, but I'm pretty sure that with National Grid in our area you get a certain distance free, or if there is an installation fee it's minimal if the lines run on your street.

You should also expect your PM to provide reliable market rents and color on the immediate area, when you're evaluating a purchase.Also to set rent for your existing units at the optimal level (normally slightly under market to minimize vacancy time and turnover).

I know a reputable property management company would be needed to handle minimal service calls since I would be too far away from the property.If anyone currently owns rental property out of state, how is it going for you?

These may be minimal with an all cash deal, but they still should be added to the acquisition cost (denominator) in order to come up with a true figure.

Again, $30k will need to be the minimal, especially if you are doing repairs however it would be best to pass those along to the buyer as part of the "great deal" in pricing.

Should I have just used the 70% rule and made a higher offer and minimized my profits to, say, 15,000?

If you are at all like most landlords, you dislike rent raises for fear of vacancies.To have the desired effect, raising rents requires a policy as carefully outlined as your rent collection policy, one calculated to minimize tenant dissatisfaction and resentment.

Your goal is not to minimize the profits of your lender, but to maximize your own and those of your investor.

He of course would need to check his tax basis with his tax attorney or accountant and this is just an example.There should actually be very minimal property management in the triple net lease arrangement due the tenant is taking care of the property for you in return for a piece of the deal..

My biggest fear is that I'm going to put my money into something I don't understand.In answer to Scott, for my FIRST property I'm looking for something that needs minimal repairs.