-Pest control inspection -Sewer inspection Should I get an electrical inspection as well?

Commercial 2     $480k          6%         5 year       20 year           Commercial 3     $235k          6%         5 year       20 yearCommercial 4     $229k         5.5%       7 year        20 year         (Could be refinanced to residential loan)Residential 1      $142k          4.5%      30 year      30 yearSince all these properties are down in Galveston, one benefit of paying off the loans is the control of the insured amount.

I was told the roof had 5-7 years left/no leaks2) electric panel (does not have 1 main breaker to shut down panel at once) estimate:3500k - 4500k.The panel is called a "split bus panel" with 4 main shut-offs.

It came out to around $125 / month cash flow, not GREAT, but for a first property it's a base hit and gets me in the game.HOWEVER, here are the main issues that came up from the inspection that really concern me:Horizontal cracks in the poured concrete basement foundation on the back and left side of the house with what looks like attempts to patch it with stucco in the pastKnob and Tube wiring throughout the entire house (concerned about getting insurance)Galvanized piping for majority of water supply lines (low water pressure throughout house)Leaking roof from chimney (need to install cricket) and fix upstairs unit wallsOne of the furnace flues is completely deteriorated and needs replaced, currently releasing some levels of carbon monoxide into basementOne of the water heaters is from 1992Some water intrusion damage in main electrical panel and one of the breaker panel is a Pushmatic styleThese are what I conclude as the big ticket items.

Oakland , Berkeley and San Francisco  are notorious for their strict rent control.

Rent control troublesome for properties not at market rates.

You have to take stock and get full control of your personal finances before you start working on putting together your first business plan and go on the hunt for what you want.

Assignment of contracts are controlled by the specific language that is included in the contract itself. 

The only time I've heard of such an ownership split work within the same property is if you own 90-95% of the units AND have operational control of the whole property (i.e., YOU are the one that controls the HOA, property management, etc...). 

Person taking the pictures has control over what you see.