Bank could be a side bar at the closing if there was concern about funds. 

Here are the numbers. 10 HousesAsking price: $269,000(These are numbers he gave me) Gross monthly rent: $4,524Annual gross rent: $59,388Taxes: $4,640.54Insurance: $4,168.00Total of Annual expenses: $8,808.54NOI: $50,579.46 ------------------------Loan with bank portfolio lender: -20 year commercial loan -No balloon payment -Interest rate: 4.75% -Interest barring every 5 years at a 2% cap on interest rates -20% down payment ($53,980) -Estimated monthly payment: $1754-Annual amortization $21,048----- it may be worth noting that we have $20,000 cash for this but will have to take the other $30,000 out of my husbands annuity retirement account which would inevitably lower the cash flow for us personally but we haven't called the financial planner to see what those payments look like.

Then we've converted a bar into a therapy Center with a gym, consult rooms and offices.

It cost me my day as I coordinated efforts to get an electrician and then a plumber on scene on a Saturday afternoon!

It's a foot in the door plus you'll get the behind the scenes exposure of how those operations are ran and managed...

It wouldn't seem such an important thing really try and see where in relation to the freeway is this going to be,  And if you can look at the environmental impact report see if it gives a number about the vehicles that will be passing by every day,  Most of the casinos wont be local regulars like one might think,  If it's by the freeway there's were the bulk of the customers will come from and they will all need someone to make change clean stock food tend bar etc.,  those are YOUR pool of potential renters. 

It's got some new popular restaurants and bars and is an LGBT friendly neighborhood.  

It is hard to know what goes on behind the scenes at title companies, even if the most reputable in your region and you have some assurance of its reputation.

Framed local art scenes and some eclectic furniture, large pots or whatever to be the opposite of a holiday inn express (my hubands fav), an outdoor bistro set (for smokers) and maybe a bbq grill.

Looking at the County records, it looks as though the Mortgage is paid and he owns it free and clear but I dont know about any other mortgages he may have taken out.I can make a down payment of $20,000 but I'd like to see what everyone thinks before I approach him.One other thing of note is that 20 years ago this house was the scene of a pretty grizzly murder and arson!