Also, keep in mind that if the beauty salon is operating under a nonconforming use variance, once they leave, you might not be able to get another variance for another beauty salon tenant.

So naturally I'm coming back to ask you all for more advise: What are the strategies you employ to streamline your property management operations if you self-manage?

However, if that includes an operating agreement then I believe that $600 is an excellent price.  

I won't be fronting any of my money but will be operating and managing the property.

Hello to all.Life is too short to deal with bad servicers, bad lenders and companies that don't care.Servicing should be simple from the clients perspective...and it should offer the client a combination of great CS, confidence in their operations and a solid, interactive technology platform. 

The own/rent question generally hinges upon the cost of buying and selling, not the operations (monthly) expenses.

@Brandon Donahue, cap rate is the Net Operating Income (NOI) / Sales Price.  

They are usually small operators who just move from customer to customer.

CMBS has rating agency surveillance, B-Piece investors and now Operating Advisors.

The ROBS 401k may be a good fit for you if you want to get into the flipping game as it will not be subject to UBIT  and it will allow you to fund your own real-estate operating company using retirement funds.