I raised the expenses just to cover myself for the unpredictable.purchase price is 1,525,000.00 with 32 units, 12 of them rent out for $524 and the rest for $600.Monthly I'm looking at $6,288 for the 12 units and $12,000 for 20 units and annually $75,456 for 12 units and $144,000 for 20 units. so the GSI is $219,456.now they said its a 3.1% vacancy but that's bull lol so I calculated 5% and 7% vacancy $219,456 x 5% = $10,972.80 then $219,456-$10,972.80 = $208,095(GOI)$219,456 x 7% = $15,361.92 then $219,456-$15,361= $204,095(GOI)I just went with the 7% vacancy just to make sure I can survive with a 7% vacancy.expenses:                                                                    monthly  annually utilities(house electric, full water/sewer) = $3,500   $42,000 maintenance/repairs =                                $800     $9,600property taxes =                                         $1800    $21,600insurance =                                                 $1500   $18,000 trash =                                                          $700     $8,400management =                                            $1,400   $16,800monthly expenses is $9,700annual expenses is $116,400I then took GOI of $204,095 minus $116,400 is $87,695(noi) I also divided that by 12 to see my monthly cash flow which was only $7,307 I'm loosing about 2k each month hopefully I'm right in my calculations please let me know if I am wrong lolBest regards, Eugene.

This may or may not be well received by a potential buyer and are subject to market movements such as buyer loosing out on financing or re-trading if interest rates move.  

When your tenant signs a lease with you both you and he are bound by it. 

Being that if something goes wrong due to vacancy and i cant make my payments, i could loose everything.5.

Post in landlord tenant and you might get somemore reponses.This happened to me not law suit ,,but tenant went behind my back, didn't even make a complaint called her own mold testing guy out and then called and told me what she did..She had just moved in, the test showed mold was not at a level for any issues,, but I had some discoloration on wall by a piece of baseboard coving under the bathroom sink that was loose and they said needed to be treated and replaced.  

What tax strategies do you loose without an entity?

You can be a strict or as loose as you communally agree too - and with a certain level of agreeance (usually 67%) the rules can even be changed from time to time. 

As one who was threatened by a loose pit bull just yesterday, and one whose door frames recently were damaged extensively by a tenant's unauthorized dog, I'll say don't inherit a tenant like this anymore.

I just read your "Definitive Guide to IRR" article and had a good laugh at this:"And, since there are so many idiots chasing yield in the marketplace, you actually manage to sell a money-loosing asset at a profit"No beating around the bush or trying to be sensitive.

find a realtor with investment experience to help guide you through the process. you can call around and talk to different realtors and just be honest with them that you are new to this.make sure to ask if they have investment experience themselves. also practice using the investment rental calculators that this site provides. they are a huge help to make sure that you don't end up with a money loosing investment.