Practicing my number crunching, perhaps this will help:Purchase price: $120,000Cash in: $34,000Gross Rental Income: $1600/mo   $19,200/yrExpenses yearly (percentages off income):Vacancy @8%                 $1,536 Maintenance @5%             $960Management @8%         $1,536Mortgage,Tax,Ins           $9,600Total Exp                       $13,632 Cash Flow                            $5,568Net Operating Income = $19,200 - $13,632 + MortgageCash-on-Cash Return = Pre-Tax Cash Flow / $34,000Didn't know the specifics on some of those.

Real estate in a trust account is not a good idea because of the management requirements of the Trust Company, it needs to be appraised annually and operational accounting is going to chew up cash reducing your ROI and cash flow.

If there are loans on all 3 properties and you are wanting to take down all 3 of them at same time it is just an added logistic for your closing company.

Dreams and starry eyes.You will find many even on this forum that still lack the discipline and knowledge to operate a business.Also although many are comfortable in the belief that real estate investing is low risk bankruptcies occur every day from bad choices or bad luck.

You should ensure that they are not only operational, but in today's energy efficient world know how antiquated they are compared to other newer'ish buildings, and what the cost is to upgrade or replace these systems. 

Look into REI meetups in your area and go start networking.I have found almost no one that recommends trying to do anything, even wholesaling, without having enough money to operate their business.Best of luck and happy investing.

Performing energy efficiency retrofits of our properties is core to our operating principals, so we try to utilize these programs when available (even if the program is more show than substance).

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.