Usually a hybrid or gross lease.It is key to inspect the parking lot, interior and exterior of building, roof, and all mechanical, electrical, water systems, etc.With newer buildings sometimes you can net higher with gross leases or hybrid but in older buildings where landlord is paying lots of costs it can really eat into your net number.You need to meet with an SIOR broker to see what type of lease structure is common in your area for this type of property before your due diligence period runs out.

However if you plan on growing a portfolio of properties over time and can afford to properly set up and maintain the a corporation yearly without it eating most of your profits, then that is the better route.  

What if the refi doesn't cover the costs of the project, who eats that?

Not only did I not value myself enough for PM, but the CapEx and unit turns began to eat way too much in to my “cash flow”.

Some places in the NorthEast and NorthWest have double-digit aggregate property tax rates, which can really eat into the value of your investment.

That'd eat a pretty good chunk of the cash flow from the first property I'd imagine. 

The condo is in a 15 year fixed mortgage and will be fully paid in 12 years.The question is would it make more sense to eat those monthly payments until the HELOC principle payments become due sell the house and pay it off then or refi when there is enough equity to cover the HELOC amount? 

Go figure.If I do go the eviction route it will mainly eat up the 1400 in security deposit and I’m left with barely any money to clean up the unit.Even if I’m able to contact him, since he is in a mental institution will he even be mentally stable enough to sign quit on the lease?

I am a bit of a skeptic as the property taxes really eat into the profits. 

Moved on quicker than I thought, rent was $1K less than I thought I could get because I failed to do any research, and I can't sell it without taking a loss at this point....so I eat $1K each month praying for appreciation LOL.