There are even Airbnb proprietors who rent out improved and permitted shed conversions for as much as $100/night.  

I do tell folks they can check with local utility companies that service the properties to find out what previous bills have run.   

If you purchase an older building & do nothing to improve it you won't be able to command the rent or maintain the value. 

You can also screen applicants (debt-to-income ratios, income verification, background checks, etc.) through tenant-screening services such as TenantVerification.com, ScreentheTenant.com, e-renter.com. 

It sounds like it use to be a little clunky back in the day, but has improved - but couldn't find any recent discussions on BP about Rent Monitor specifically.  

As far as the FSBO I subscribe to a service called beenverified . com to find current address, emails and phone numbers of people 

He estimates to spend an additional $58k over the next 10 years for maintenance and capital improvements. 

I also look at straight ROI - as this includes debt servicing whereas the Cap Rate does not.  

I'm currently still active duty military, and my goal is to get my real estate business firmly established in the next four year so that when I get out of the service I don't have to apply for jobs unless I really want to (probably not).

It is another term for the Cash on Cash ROI on an all cash deal.The $12,000 NOI is not the return, it is the cash flow produced by the asset before debt service.