This was a voicemail he left me, so we have not talked about price, lot size, or other details yet.Any advice/information is appreciated.

And, any absolute numbers for "cash flow" or equity are sorta useless without knowing the size of the deal.And, of course it's highly dependent on location, neighborhood characteristics, and the investor's preference for product type.

The RICH club puts on an event on the first Saturday of every month and thats a decent sized event.

IE number of bedrooms, bathrooms, lot size etc.You never know who's looking to buy.

I would try to minimize the size of the common areas as much as possible (within reason).

This amount of money will vary based on the size of the transaction ... but you can assume it will cost $2k-$3k at a minimum.

You will need to have a look at the sewer sizing standards of the city to determine the size of the pipe at the tap, and then check the size of the lateral line(s) in place for your septic systems. 

If he is vacating all of his warehouse or if the sublet portion is demised/separated from the rest it is much easier.Please let me know how I can help.Thanks,Phil

Hi Rob,I'm interested in Troy and similar sized properties yo mentioned for buy and hold purposes.  

If the tenant doesn't leave a forwarding address, and you are keeping any portion of the security deposit, make an itemized list, mail it to their last known address, and watch the mail for it to arrive.