Hello,I have an opportunity to purchase a Multiunit (Commercial, residential) property with a $50K yearly gross rental income.

My gross rental income is probably around $120K.  

They'd like to know gross projected rents.Thanks!

gross receipts mark that has to be hit before you're required to file Texas franchise tax.You probably are still required to file an annual report for the LLC with the state but other than that you wouldn't owe anything to Texas.  

In commercial property your NOI (which is your gross rent minus your expenses) is the main factor in evaluating the value of a property. you want high rents and low expenses, and in most cases the renovation of the building is what can make that possible.

As communicated by my office we have sent employees of ABC to sit and wait for the police at your house for multiple hours on several days.

Will the return be on the gross profit or the net profit?

After trying to figure out if it was better to have employees or tenants, I chose tenants. 

However, if your father has a company setup and you are an owner/employee of that company, I do not believe you would need a license.

Funny story:  My wife and I have run a business for 10 years now employing and contracting with 50-70 employees/contractors.