The longer the term, the higher is the cash flow.You also need to budget for payroll, marketing, administrative, and make ready expenses.

Hey Sam,Crazy that this has drug on so long.

It's your "opportunity costs" of directing your efforts toward the most efficient use of time and your expertise going to the highest profitable activity.To cost management, look to the cost of hiring out managerial and administrative functions.

It's a high energy place, you can feel it in the air, it's like a drug to me.That being said, it's a high stakes game, and you kinda gotta run in the right circles.

While I think they're an incredible tool, they take some administrative stamina.

I'm also administrator of the biggest staffed event social page on FB.I can't go any further in my career and so Real Estate Investing is my new chapter and I plan to ROCK!

There are expenses in advertising, marketing, administration, management, utilities, repairs, turnover, property taxes, insurance, etc.... 

While it is a little more administrative work - a lease per room; collecting rents from individual tenants, etc. - there is also more revenue (30%).The situation of renting individual stations to stylists is no different - yes you have to deal with more "individual" tenants, but you will also be paid for it.  

I am a System Administrator II for a managed services provider.

Yes, if the administrator has the power of sale they can sell subject to the existing mortgage.This should fly pretty well as the administrator can give the lender a copy of the death certificate and have your attorney provide a letter simply stating that "the property will be maintained as agreed.