Amber Butler, just stay focused on the end goal and you will get there quicker.

Syndicators generally try to stay below the REIT radar and work on projects too small for the big and too big for the small.

Tenant has two young children, they have found a place to stay tonight.

Does he have AUDITED returnsIf this is intended to be a stealth ad for this, I would tell every other person here to stay far away from this.And even a good 10 year record means almost nothing.

If you think you want to stay in the deal or make a new offer, you need someone local to help you figure out the right asking price, DOM and anything else needed to get a retail buyer.

I just stay out of the landlord business?

"Disclosed Operating expenses:"RUN your own numbers.400 rent X 4 = 1,600 monthly X 12 = 19,20019,200 gross income divided by half.10% vacancy30% operating and expense10% managementYou have then 9,600 a year.At a 10 CAP you have 96,000 purchase price.1 beds have a lot more turnover than 2 beds do.The people get a boyfriend or girlfriend,get pregnant,family member or mom moves in and they now need a 2 bed.Pay attention to if 400 is at market or below market rent.If it's below market you can keep tenants staying for a long time.If it's high for the area or at market people will move as soon as their income starts falling to a cheaper alternative which creates more turnover.For each turnover you will have lost rent and re-condition costs.The 96,000 purchase price does not include immediate fixes.Example the roof needs redone,mechanicals only have 1 or 2 years left before having to replace etc.

My initial goal is to create an additional income stream since my wife stays at home and want some protection in case I have employment issues/laid off.

I also had some help so giving a specific time is hard to estimate.IMO, you should hold decent properties in good condition and stay on top of them maintenance wise, tenant screening is key as good tenants are golden, I have had many I never really heard from and who took care of the property.

It's not that Officers can't be compensated, but in RE my suggestion is staying away from the issue altogether if possible and use the N/P as your primary customer from a profit making entity.