While it's not $800 per month, the vacancy, and expenses are also far less should any issues arise.I know on this site, many podcast, and a lot of teaching Guru's often promote the get as many Doors in your portfolio as you can, while not teaching true fundamentals to the new investor population.

I would use a web based-software that will deal with accounting and Property Mgmt.

I have been reading many books which touched on cap rates, but your right, it is up to me to do my own diligence on educating myself much more on the fundamentals of real estate. 

If you mean business, you'll have them on you at all times.Make time to set up a web site and get business cards designed and printed.

If you're not familiar, search the web or this site.Basically putting 35% down seems to be the magic number where hard money lenders will throw cash at you as long as you are buying the right property at the right price.  

Part 2 will delineate the calculation of the ratios.Proforma AnalysisThe basics of a financial model or “proforma” for a development project:Income and ExpenseConstruction Period Cash FlowInternal Rate of ReturnIncome and Expense AnalysisOn apartment deal underwriting or financial analysis, we’ll first break it down very simply for you to gain an understanding of the fundamental components of income and expense analysis for an income producing property.

Thanks for the help, yes I saw the reviews in their web page and looks like it is a solid company, especially the reviews from @Tony Blasoli , I hope he is a BP member.

I would first look at the market fundamentals of each of those markets, as part of your research.

In today's age, most of the CPAs use Skype or other web meeting software for clients meeting.Good starting point to look for local CPAs are yelp, google, local chamber of commerce and state accounting society.Key here to look for professional with real estate side of tax planning and preparation experience.Let me know if you have any questions.

The reason we say that is our product, converting non performing assets into self storage facilities, is fundamentally a retail business.