It was a swift and successful purchase with tenants in 5 days after putting it on the market and I also wanted to test my metal with regards to buying sight unseen (I only visited the house after having keys in hand).

The "ops" company provides services, has employees, and character of risk of loss is different than the holding company. 

Investors in hot markets know they’re in hot markets and for all you know he may just be testing the market.

Also it might be a good idea to test out some more property managers now so that when you do get more units you aren't dealing with a bad one when there are too many units to handle yourself.

Once you approach 10 gpm electric power demands would be prohibitive for standard residential electric services. 

Annual numbers are:Built in 1984 - Seems to be a B class complexPotential rental income $900K-$1M gross6% vacancy ($60K), $20K addition income from vending/laundry - no other amenities, $65K taxes, 5% ($50K) Capex, $28K Insurance, $16K contract services, $90K payroll/staffing, $150K repairs/maint, $6k utilities (tenants pay their own), $10K accounting/legal, $5k advertising/marketing, $100K (10%) PM (is that redundant with staffing?)

Looking for contractors for make ready service in City Heights.

And even though virtually every sponsor agreement allows me to share investment information with others who might be advising me on it (especially when club members are bound by an NDA), I still ask the sponsor if I can share it, because it's a test.

I currently own a maintenance company here in the Tampa Bay market that services commercial and residential homes through either Realtors, Property management companies,  and large REIT's.

Hi Eric,If you are talking about your personal tax liability (at the federal level), the formula I use is: NOI-Total Debt Service= Cash Flow; Cash Flow+Principal Payments Added Back (on debt service)-Depreciation=Taxable Income/Loss.