@Ryan Camenisch I do need some tips on finding the right broker (assuming I pass this test of course) and adding beer into the equation is never a bad thing!

There are lots of older buildings that are owner managed and owner serviced, however if you have a day job doing the maintenance on a building (though your own) will equate to a part time job.Some tenants like that the owner is doing the work (some don't)

We find it a lot easier to use the price per square foot equation.

This would equate to $1,550 per month over the course of 50 months which fits into the 2% rule...I ask this because, in my opinion, this is a pretty good deal for me and I would like to use a simple mathematical metric for evaluating purchases like this in the future.Does anyone have an idea on how I could evaluate this correctly?

Matching your criteria to an area where you can find the right deals is the real challenge of real estate investing.I can easily calculate income, expenses, debt service, net operating income, capitalization rates, etc etc given any set of numbers, because it's just an equation.

I wondered if some average the first year ROI into the ROI for the duration of the rental or if they just exclude the closing and updating costs for the first year from the equation.

College degree doesn’t equate to success or career but at least you will have a backup if RE has correction which it will just don’t know when.

It equates to $70.00 per month.Thank you for your input! 

I noticed you listed $200 for property management which equates to 2% of gross rent.

Now, we're being told that natural disasters should be included in the equation somehow, which is ABSOLUTELY RIDICULOUS!