Also you vetting a tenant is crucial here:In these types of leases the tenant is responsible for paying not only the base rent but also all additional expenses associated with the property, including property taxes, insurance, and maintenance costs.

Although, thinking a little longer term, it would be interesting to see if you can build in a small equity stake in addition to your fee so that you continue to receive benefits for your initial efforts on the front end.

As you scale, often times a good idea to do prior to scaling, putting essential systems in place to help you manage all of the additional work/tasks can be very helpful.

Might go to my profile and to my posts, there are probably 1,000 posts on this topic, I can't write them all over again :)Additionally, if it is for investing then put on the face of the note "Commercial Note" you will avoid tons of regulatory issues as a commercial loan.

Additional costs like HOA dues, neighborhood maintenance funds, and property taxes over the duration of the build should be factored into your financial strategy.The foundation of any successful partnership lies in a robust operating agreement.

39 year mortgage that I pay additional principle every on monthHow did you add value to the deal?

A good associate of mine (we do a lot of deals together) owns a commercial debt negotiating company and wanted to expand from direct telephone sales solicitation to social media.  

However, when there is a refinance event in the model, the cash flows are much lower because the debt service is higher.

No liability or debt other than the investment itself. 

@Ryan Judy, I am not sure about the code and zoning restrictions in your jurisdiction, but from my experience on similar projects in NYC sprinklers were required among many other additions.