That's $628,560 more per year going right to the bottom line for every 1,000 units we own and operate.I'm not a landlord, I just own companies that own assets, one of my companies rent them out, and others process debt collection, etc....We have taken things a step further and redefined operating models, work hard to redefine the industry as we see it, yes within the laws. 

I plan to partner with a family relative who has a strong credit and good income/debt ratio, I am trying to figure out a good compensation - agreement to make this worth a while for him.

Financial info about me:I have my own home directly next to a hospital where I work in Baltimore, MD (I work as a Nurse).  

Other than that I'd be looking at debt terms with local banks.

I am also an Engineer but looking to make some investments so I can work towards financial freedom.  

I have zero investments at this point but my plan is once I've built up some money and in a financial position to purchase my first home (2-3 years) to purchase a multi family home, a duplex up to a quad plex depending on what kind of deals I find at the time and the market.

My journey to the world of REI began with my personal experience as a renter, HGTV, Dave Ramsey podcasts, a desire to become an agent, and now the Bigger Pockets podcast.I am most enthusiastic about building a portfolio of rental properties for financial freedom.

Yes, $1000/month is after all expenses and debt servicing.

Make sure to talk over the septic situation with them.As long as they are on-board then I'd hire an architect and bid it to a few contractors and see if it made financial sense.

They were looking to get debt on the portfolio a while back, but found that local banks were very conservative, and needed appraisals on each property individually, which would have been cost prohibitive for us.