Thank you for your input.For my purposes, please assume that the revenue sources are accurate as I am comfortable with their attainment.Please also assume that the operation will be professionally managed and maintained primarily thru the existing staff.Perhaps that would help you in your analysis.

You probably have a good point about liability, but my main concern would be the costs to maintain it.  

She likes the house and wants to stay and says she can afford it(though i dont know how).So she wants to sign a lease with only her name and I tear up the old lease(with both of their names on it)I could do that, or I could maintain we must keep the original lease so I have another person to go after if need be.Or I could say she can't stay because she doesnt meet income limits and then try and rent to someone else.Anybody have any advice?

My thought process was to buy/build commercial space to move my primary business into, while leasing out the rest </=49%, in an effort to decrease/maintain my current rent level ($550/mo) while building equity in property I own.

A few had gotten to the front door - but then always balked at going in.The house was everything I didn't want - oil heat, big; thirteen rooms, a huge property to mow and maintain, over 500 feet of fence to paint, no garage, etc.

Renting to college students means high turnover which may mean updating/maintaining the property every year when the students move out for the summer.

Hopefully your borrower is cooperative and you can obtain the last couple years financial statements from him and hopefully he is maintaining some decent cash flow still.  

I maintain that you get the property under contract for <110k.  

The properties were developed by the owner approximately 12 years ago and have been well maintained.

I plan on leaving the pool dry and leave it up to the tenant if they want to fill and maintain it.