Larger office towers owned by institutional investors are usually a little different than the mom & pop garden-style office buildings, but here are some basics:Negotiate vendor contracts / oversee vendor operations (security, maintenance, janitorial, parking, landscaping, etc)Oversee TA's/TI'sTenant interaction (usually complaints, not usually compliments)Report to ownershipWork with accounting on monthly financials and rent collectionsWork with legal on delinquencies, evictions, disagreements with tenants on lease obligationsLeasing and renewals - sometimes done by a professional leasing agent, sometimes done by the property managerOccasional/unusual stuff like hosting tenant events, putting up holiday decorations, fire drills, construction defect lawsuits, vandalism, homeless people sleeping on the property, etc ...

We can do flooring, interior and exterior painting, fencing, interior and exterior light fixtures, sinks, faucets, baseboards, closet internals, window coverings, door knobs, electrical plugs, switches, and covers, mailbox, appliances. garage door, opener, exterior/interior caulking, landscaping.

You may also want to look closely at what landscaping you have near where your line is.

I didn't include anything for this but there is no landscape/snow removal?

.$1,200 .........Landscaping..............$240 Total Fixed Expenses.......................$23,254 Repairs/Maintenance.........$3,360 Replacement Reserves.......$1,440 Management (6%).............$4,932 Total Variable Expenses.....$9,732 Total Expenses................................$32,986 Net Operating Income.....................$43,460 Lets assume a lower NOIin case the expenses areunder reported:..............................$40,000 Financing:Purchase Price..................$400,000 Loan Amount.....................$300,000 Interest Rate.....................5.20%Loan Term.........................10 YearsAmortization......................20 yearsAnnual P&I........................$24,158 Net Operating Income......$40,000 Debt Service.....................$24,158 Cash Flow.........................$15,842 Cap Rate...........................10.00%Cash on Cash Return........15.84%

My parents bought the house in 1974, and it falls under Prop 13 protections, which means its assessed value has not changed much since they bought it, for something around $74,000... however, they've done extensive improvements and expansions to the house over the years, which probably alter the cost basis considerably, true??

Yes, I'm definitely using a good attorney.The property is in Elmsford and you are right, properties can get expansive..Thanks Brian!

I didnt think I was going to come close to that figure but I am probably going to be around 9K when its all done - the numbers added up quicker then I thought :)So far we had a mold remediation done in the basement, painted the whole inside of house, replaced both toilets, replaced everything in the bath except the tube, upgraded kitchen knobs and door knobs, purchased appliances, changed all light fixtures, landscaping, gutter cleaning.I guess I was wondering what is the correct approach when rehabbing a rental.

.- Grass - add it in sprigs, seed or sod and plants outside, landscaping is a small cost but is the first thing people see.

But, primarily, the economic landscape has changed - somewhat permanently.I do have very strong interests in developing affordable communities with a primary target market focus on seniors and the retiring - especially military.It can be done with the methods I have that are based upon my historical experience.Just my thoughts.