You should check with a  local attorney and agent that are experienced in the construction industry if you are going to continue to pay them as 1099's. 

Continue staying focus and learning!!

They typically want 35 to 40% down for STNL.If it was corporate guarantee and BBB- investment grade or better tenant then loan terms tend to be better with less down.Would require operator to give personal guarantee. 20 unit operator means nothing if they do not personally guarantee or they can put lease under just 1 to 4 stores for guarantee.Would want rental increases every year. 1% rent increase is generally reserved for corporate.

In addition, ideally the unit and rent continue to appreciate increasing your net worth. 

This data only includes the 19 small to mid size cities and towns I am interested having investments in.2016 Multi-Family Sales2 Unit Apartment Buildings in my Farm took a dive last year, would have been a good time to buy a 2 unit building but I opted for a 3 unit with better cash flow.59 (2)unit properties soldRed line is the sale price, Blue line is the list priceThe average sale price for the year was close to $65,000The average Discount from list price averaged $9,000Only 10 of the sold properties were purchased at list price or abovePrice per unit was a whopping average of $28,6543 Unit Apartment buildings in my Farm did a little better on price the building I purchased was the last 3 unit in December in 2016 at a 10% discount from the list price and about 11k below market rate at that time.13 (3)unit Buildings soldRed line is sales and the blue line is discount from list price.The average sale price for the year was close to $83,000The average discount from list price was $9,000Only 1 building was purchased at 5k above list priceThe average price per unit was $27,4872017 Multi-Family Sales2 Unit apartment buildings in my farm this year are not suffering as much of a hit to price this year although the average price has continued to drop but only slightly.62 (2)unit Buildings soldRed line is sales and the blue line is discount from list price.The average sale price so far is $58,000The average discount from list price so far is $7,1417 Buildings have sold above list priceThe average price per unit was $30,0003 Unit apartment buildings 201710 (3)unit Building soldRed line is sales and the blue line is discount from list price.The average sale price so far is $75,000The average discount from list price so far is $8,7231 building has sold at list priceThe average price per unit is $25,175SynopsisAlthough there are some minor fluctuations in the NEPA Multi-family market the next chart shows all Multi-Family sales year over year which shows the relative stability of the market.  

I would say Walnut Hills is a fantastic place to be if it continues to gentrify.

To continue the thought, though a slightly negative one...Has anyone ever had to recover from a total loss (either as a seller or buyer)?

Operating expenses are very low because I use gas dryers (instead of electric), tankless water heaters for hot water, and high efficiency, front load washers to save water.  

If I can't find any, I will continues to search and search.

The question now is how expensive an operation this is going to be...