@Hugo Yu It's a wash tax-wise, because you have an expense that offsets the income if you have to pay closing costs.

If you end up canning this PM and decide to take another stab at finding a good one, see if you can find one who has been in the business a long time and is also a successful broker or has some other revenue stream that way they won’t need to bleed you dry with additional fees in order to stay solvent.

@Dennis Elverman what kind of renter have you picked up in the Wash Heights area? 

He washed the walls; I saw him.

If investor #1 made a market rent payment, and that was distributed equally to all three investors, then its a wash.

I mean we could talk about opening car washes here if you would like:) Renting houseboats on big lakes is big business.

The main guy busts one of the windows out and tries to wash his eyes out and they escape down the beach.This is all told to us by the police when we get back to the hotel where the incident happened .

I do know when I first bought in Denver (~1995-1996) that someone mentioned a house in Wash Park went for $100 per square foot and everyone shook their heads.

Commercial Property also might be an option as I have seen several people do well with Car Washes and Storage Unit Facilities.  

Just the same as a restaurant, or car wash.