A license can be expensive to maintain.

Maybe an LLC where you are both members.When you get to more than a few people investing, you enter syndication territory, which is very complicated (and expensive).

Unless it is a really killer steal, your Practical options are probably at best to recoup any Actual expenses on this deal, and move on.

For calculating expenses I'm taking a percentage from the monthly Rental Income.  

The other option is a Heier all in one combo unit, which washes and drys in the same machine, but I was warned by the appliance guy that they are expensive to fix, and the new ones come out to about $1100 now on sale with taxes and delivery included.  

In CA, I believe you're looking at pretty expensive ongoing costs to have the LLC ($800/yr minimum).

At 50% expense ratio a 5 cap would be 6,480,000. which still would make this a good deal.

Not necessarily looking for cheap, but looking for reliable, fast and not too expensive ;)Any resources that the members here use to find them?

When investing in Condos, would you scale back Maintenance and or Capex percentages on a Buy & Hold rental due to roofs, foundation, outside expenses included in HOA fees?

Hello BP friends,My name is John and I just recently moved to Georgia from the expensive state of California and looking to eventually transition out of my normal career and invest in real estate full time.