I would build in assumptions around vacancy, insurance, utilities paid by owner, taxes, etc...

William,I have some insight into the self storage industry. 

About 600 cost per month in taxes and utilities. and our town has a DRY rental market.

When we go to small claims court I will be asking for any back rent, court fees, unpaid utilities, repairs, and garbage removal and cleaning. 

It is not the only one on the list: DEC was purchased by Compaq in what at the time was the largest merger in the history of the computer industry and later (2002) Compaq was purchased for $25B by HP. 

He's considered a slumlord in these parts because his "policy" is to accept the first person with cash in hand, never make repairs until absolutely necessary, never use a written lease agreement, and he keeps utilities in his name so that he can shut them off if the tenant doesn't pay rent. 

Would probably also utilize them to review contract and/or create one.The most recent post i can find for the DFW area is several years old and below are the heavy hitters I have noticed.

That experience has stayed with me and I am now quite interested in getting involved in the industry.

Here are the numbers:Listing price (what it would have been): $135,000Offer: $130,000Contract: $132,500, with her paying $489 for a home warranty20% down at 5% interest Rent: $1400 (3/2 single family ranch with attached 2 car garage) Tenant pays all utilities (even down to trash pickup) Cash Flow: $250/month after CapEx, Maintenance, Mgmt, etc; $115/month if using 50% rule 

I have read numerous times that you shouldn't invest in California real estate (you can buy 4 properties in the midwest for the price of 1 in CA) and that you should never invest in a city that has no industry or a declining population.I live in the mountains of Northern California, very "middle of nowhere".