Bill: around here that's called operator error....if your beer gets warm you're drinking too slow

Storage is not typically a NNN set up (it could be if you master leased an entire facility to an operator and they handled the day to day but that is not cusomary in this space).

Doing them may not make sense for small operation, but if there's a lot of wealth in them then it probably makes a pretty decent amount of sense.

We took a higher interest rate, 3.75, versus paying our own closing costs, but still dropped from 6.0 to 3.75 rate and virtually paid for.

It may be worthwhile to work with both an attorney and a CPA to get the operating agreement properly structured.

The town has not bitten the dust, it is doing what is necessary to reorganize so it can continue operating.

Virtual office with a coffee shop feel may be one niche that needs some elaboration.

While a closing agent is not required to tell you everything they know, they do need to answer questions that concern you, so just ask...In this case however, the seller was your mentor, so you had knowledge of how the guy operated, at least the types of transactions he used and seems to me that in itself should have been fair warning in dealing with him in the first place.

Just because an inexperienced group buys property, it doesnt mean they are going to not know how to operate/maintain expenses.

With the disclaimer that everyone should talk to their CPA before proceeding to discuss their individual needs and personal tax situation, I think it's best to operate out of an entity.