TK operators are coddled.  

We improved operational efficiencies by adding 3rd party management and repositioned the tenant base.

I have just one tenant who pays in cash now (used twenties from a cash job) and I get all the logistical difficulties, but really...it's CASH.In the brief interim of time between receiving my wad of greasy, stinking twenties in my hot little hand and the moment I stuff those bills into the slot of the ATM, I feel alive.

We'll be sure to be very specific about what happens with any life events in our operating agreement either way. 

Operating expenses including vacancy, maintenance, property management, insurance, taxes shouldn't be more than $200/month.

No matter where you live or where you own assets, I personally recommend the Series LLC to be a great tool for the individual investor who is planning to expand their operation, as it allows for you to scale infinitely for FREE- check out this article to learn more.4th pillar is somewhat similar - you want to separate your operations from your assets.

I paid the workers through credit card after the operation.

My idea was to leverage the equity in his home to get into a/or some cash flowing properties, i would purchase those properties and operate them and let him collect 100% of the cash flow from it or them. 

They are just quick & dirty ways of doing cocktail napkin math on properties. 50% rule - The costs to operate a rental property typically averages out to 50% of the gross rents on an annual basis.70% rule - When flipping houses you will probably make some pretty good money if you aim to make offers that allow you to buy the property for 70% of the ARV less the renovation costs.1% rule - If you get a property where the monthly rents are 1% of the purchase price.

It's value is a calculation of:Net Operating Income (NOI) / CapRateFor example, if the NOI is $10k/year and the CapRate is 10%, the property is worth $100k.You need to speak with other local investors / brokers to determine what the right Cap Rat is.