Must be employed on same job for at least 6 months (additional security deposit applied if not)Must have at least 12 month verifiable rental history in past 18 months.Keep in mind this is what we use and it may or may not be appropriate to all areas or property types.The key is that if you run one person's credit you should run them all otherwise someone will find out, cry wolf and claim discrimination against you with the courts.

I just read an article couple of days back which says that outbound flow of people is more in CA than inbound.This is correct however most articles I have read leave out net foreign migration which puts Cali at a net population gain of 6 figures plus annually. 

So instead of buying a center in a okay area to get a better cap or 9 or 10 paying all cash you buy a great area for and 8 cap and put 25% down and have cash on cash return at 15% annually before rental increases.Is this center absolute triple net with CAM re-imbursements or is it a double net situation where the landlord covers roof, parking lot, utility lines and tenants do not reimburse expenses or only a small part of them??

The properties is class C and neighborhood class BTotal building square footage: 48,513 sq ft,  built  in 1947 Listing Price $1,800,582.5 0.095 OPERATE INCOME Annual % RENTAL UNIT INCOME $363,504 0.05 Vacancy 5% $18,175   GROSS OPERATING INCOME $345,329     OPERATING EXPENSES   Advertisin $272   Trash Removal $1,320   Management 8% $29,080.32 0.08 Supply $16,611     Landscaping/Snow Removal $1,866     Replace/Repairs/Supplies/Maintenance % $30,825.14 0.0848 Water/Sewer $19,214   Utility House Gas/Electric $10,924   Real Estate Taxes $54,100   Insurance $10,061   TOTAL EXPENSES $174,273   NET OPERATING INCOME $171,055   LOAN WITH 20% DOWN $360,000 $1,800,000 DEBT SERVICE (1) ($97,524.99) 0.2 DSCR $1.75   CASH FLOW $73,531   CASH ON CASH RETURN 20%  I add 5% for Capital expenditureand vacancy rate to 10%, now the Price about 1.5M VALUE $1,494,473.9 0.095 OPERATE INCOME Annual % RENTAL UNIT INCOME $363,504 0.08 Vacancy 10% $29,080   GROSS OPERATING INCOME $334,424     OPERATING EXPENSES   Advertising $272   Trash Removal $1,320   Management 8% $29,080.32 0.08 Supply $16,611   Landscaping/Snow Removal $1,866   Cleaning/Maintenance   Repairs/Supplies/Maintenance % $30,825.14 0.0848 Water/Sewer $19,214   Utility House Gas/Electric $10,924   Real Estate Taxes $54,100   Insurance $10,061   Reserves/Replacement 5% $18,175 0.05 TOTAL EXPENSES $192,449   NET OPERATING INCOME $141,975   LOAN WITH 20% DOWN $300,000 $1,500,000 DEBT SERVICE (1) ($81,270.82) 0.2 DSCR $1.75   CASH FLOW $60,705   CASH ON CASH RETURN 20%  ThanksLong Khang

I can do some annual formalities for the entities and my accountant can file taxes from the books kept by the book keeper.Unfortunately I haven't been unable to find anyone in my personal network who has been able to advise me to my satisfaction.

Prices are up about 7% which is a bit hotter than our 5-6% annual average.All in all we have a very diverse and stable economy and a very steady seemingly unstoppable rise in prices.

If I adjust for three of the units paying their own electric than my approximate electrical usage drops to $2066 per year which increases cash flow to $5,248 annualy.Here are my numbers as they currently stand:  Assumes $700 mo for the owner occupied unit than 500, 550 and 350  monthly.All tenants are on a month to month so I am not locked in with them so if they don't wish to pay their own electric I can move new tenants in.InputsResultsPurchase price:$105,000Down payment amount:$21,000Scheduled monthly income:$2,100Total out-of-pocket expenses:$22,200Other monthly income:$0Vacancy rate (%):5.00%Debt Service Calculations:Number of Units4Blended rate:5.500%Financing information:1st loan amount:$84,000Down payment (%):20.00%1st loan monthly payment:$4771st loan portion (%):80.00%2nd loan amount:$02nd loan portion (%):0.00%2nd loan monthly payment:$01st loan interest rate:5.500%Total annual debt service:$5,7231st loan term (yrs):30Amortization (yrs)301st loan closing costs:$1,200Income and expenses:2nd loan interest rate:0.000%Gross scheduled rental income:$25,2002nd loan term (yrs):0Gross other income:$0Amortization (yrs)0Total gross income:$25,2002nd loan closing costs:$0.00Less vacancy:-$1,260Total annual operating expenses:-$15,114Operating Expenses (annual):Net Operating Income:$8,826Real estate taxes:$2,300Annual cash flow:$3,103Insurance:$900HOA dues:$0Management fees:$2,640Rates and ratios:Legal expenses:Capitalization rate:8.41%Marketing:Cash-on-cash return:13.98%Landscaping and snow removal:$0Debt service coverage ratio:1.542Maintenance and repairs:$1,320Reserves:$528Other Calculations (precise in one-loan scenarios):Supplies:Minimum desired DSCR:1.2Other:$0Purchase price to support minimum DSCR:$134,935Landlord paid utilities (annual):Average Cap Rate Supported (based on local area):9.6%Garbage:Water and sewer:$2,052MAXIMUM purchase price to support required Cap Rate$84,730 Electricity:$4,210Gas:$1,164Phone/Cable/Internet:$0

Is offering cash for keys just allowing a wolf to continue to roam around amongst the sheep?

This will vary based on region but in general 2 – 5 points, 11% - 14% APR (meaning this is the annual rate so divide it by 12 to get the monthly interest amount), and documents fees can be from $200 – $1,500.

Annual income should be around 60k between the both of us.