The daycare would only be extra income after its expenses are paid (the kids food, equipment and such).

Wants to "cut his losses and sell asap".

They expect taking 6 months for the renovation.his is the owners accouting of what he thought income/expenses would run: projected income 36 2 bedrooms x $550/month = 237600 per year minus 8% loss rent 19008 per year total income 218,592 per year projected expenses taxes: 21988 per year insurance: 10000 per year maintenance/supplies: 12000 per year legal/administrative: 3000 per year salaries: 20000 per year Misc. expenses: 10000 per year Reserves: 36000 per year Utilities: 6500 per year Management Fee: 36000 per year Total expenses: 155488 per year Net operating income: 63104 per year think the projected expenses are way high. 36K for management....i thought closer to 5% was normal for this type of project.

@Michelle Hassler,I think everyone will respect your decision if you want to move forward with Fortune Builders and if things go bad for you, everyone here will welcome you back with open arms all we are trying to do is save your heart aches and loss of money and keep you safe from the snake-oil salesmens.Joe Gore

My #1 rule of seminars is that if there are pictures of estates, expensive cars, or blue water (pool or ocean) being displayed on a screen in front of the room, someone is going to get excited and eventually take a big loss.

Make sure you are covered for replacement value so that your property can be rebuilt in the event of total loss.

Conversely, when vacancies occur in the residential apartments above, the store at the street level is thriving and revenues can offset a loss in rental revenues.

The vacuuming also picks up the food/eggs/larva/adults.

Like, moving up the food chain into commercial, or buying the model home from home builders, then doing a sale/leaseback?

Thanks for the insight Linda, and sorry for your loss.