My understanding is cap rate= purchase price / annual NOI, so did the owner simply take their own purchasing price when they bought their property and divided it by their annual NOI ($97,450)?

Yes, I’ll cancel and go on to the next though this will be attempt #5.

Keep your eyes open to new avenues that still lead to your end goal.Embrace DisappointmentFew people strike gold on their first attempt.

Might be best to get the popular vote from all interested, and I can simply go along with what would work best for most. 

I dont even open their emails, because its literally not worth my time to do so.Its simply the strategy of an amateur.

The best answer though is to simply find a more qualified tenant and avoid this whole mess.Feel free to reach out if you have any questions :)

I simply wonder why an owner would create a ten year lease for any tenant, especially since it wouldn’t allow for rent increases.

Being arrested for weed and traffic 6 years ago simply could mean she had a suspended license and a small amount of weed.

There is a cost to LLCs; state annual fees, bank fees, accounting fees, and simply the cost of the time to operate multiple LLCs. 

Some ideas I have been teasing around are building a rental storage facility, leasing the land for a solar farm (although the lot may be too small for that), building a multifamily complex, or simply using the land for advertising.