And whatever you tell him, it's only as good as your follow through with the consequences if he fails to comply.If don't control your tenants they will most definitely control you.

The building was was built as a duplex but a previous owner had not followed through with requirements to keep using it as a duplex. 

Is this continuous or does it have high rent followed by longer vacancy periods?

I invest $100K in it as an LP, giving me a 0.5% share of the property.The investor summary predicts the following NOI:Year 1: $1MYear 2: $1.25MYear 3: $1.5MSo given my 0.5% ownership stake, does that mean I would be receiving a K-1 showing my income from this as:Year 1: $5,000Year 2: $6,250Year 3: $7,500If we continue the example and say that I receive an 8% dividend each year, then my actual profit each year would be:Year 1: $8,000 - $5,000 = $3,000Year 2: $8,000 - $6,250 = $1,750Year 3: $8,000 - $7,500 = $500This tells me that I must be missing something incredibly fundamental in all this -- that one of my assumptions is so egregiously wrong that it invalidates literally everything else.But what?

First, if you are able to invest in your own market and make a respectable return AND have the possibility to own appreciating assets, my advice would always be to follow that path.  

I will be interested to see how it goes, and look forward to following your progress. 

To be honest I had only maybe 12 followers... when I first started... now i have about 16 :)    12 of which were actually somehow my friends or people I knew... and the other 4... well... just some other typical folks in similar spectrum who are trying to dive into the world of the commercial real estate...What I found quite surprising is that a lot of folks are actually interested in my story...

Please see the following for more.https://www.irs.gov/retirement-plans/retirement-pl...

You give an investor a lead and if they follow up and eventually close on the property you point out, you hope they throw you a bone.  

Hello everyone,I wanted to get your thoughts on the following rental application for a New Jersey property.