Unfortunately this is uncharted territory for some real estate investors, and for this reason, loan scams are quite common in the financial services industry.

I pay rent to the business and take money out of the business.But the property is under my own name.Reading the OP, I am committing a basic fail against common sense as a real estate investor.  

Is that common in your area?

I also think it is common for investors around Springfield to check out stuff in CT like the CTREIA.  

Not very common in my area thank goodness. 

Best type of learning is from trial and error and you still made a decent profit!

IMO if you will be negative on the cash flow, I wouldn't do it .Your thoughts of paying down the mortgage is a common misconception about cash flow.  

I had one for a long time, but there were tenant complaints, conflicts, and too many errors.  

. $60,000 Purchase price$155,000 rehab$ 3,575 / month gross rental after rehab on apartment building (not including the 4,400 sq ft building) expenses; vacancy = 5%; Repairs = 5%; electric for common areas =$50 ; Water/ Sewage = $100 ; Garbage = $89 ; insurance = $200 ; management 8% =$ 286; Property tax = $250 ; misc = $125P& I =$1,667 Monthly cash flow on apartments = $345 plus I have use "free" use of the 4,400 sq ft building (which is my main goal in the deal

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