this happened to a friend of mine this morning.

Previous landlords checkBy FAR, the most important factor to me is the eviction history.

I set for myself milestones which needed to be accomplished each month to make this happen.I find these goals to be a wonderful motivational factor.

Should we factor in a conservative interest rate as there are fixed and floating interest rates.

That is obviously some sort of scare factor.

In your opinion, do you think it is safe and conservative if I were to factor 50% of gross rental for operating expenses?

Whether your unit is cute or not, or has granite countertops or formica, will not make any difference (at least in metro areas, it coule be a factor out in the toolies).

Be a shame to discover you've given a year's lease to tenants who call you at 2 in the morning to complain about the neighbors, or to a suspected drug dealer.You can give your tenants a 30 day notice that you are switching to your own rental agreement and give them copies to sign.

This doesn't even factor in the cost of the property, so could someone explain to this rookie how to correctly figure out the maximum purchase price of a commercial property?

This is a very vague question and can not be answered properly without knowing what area, what type of investment, what kind of risk factors, etc.For instance, a great cap rate for apartments in CA would be 6%, but would be terrible in Texas, Ohio, Illiniois, etc.