Assuming around 50% expenses and $840k PP you're at a 4.5 cap.I don't know your market at all but that doesn't sound like a great deal.It sounds like a brand new A class building so expenses should be lower though.You would need to get all of the actual numbers to really analyze it properly.

If so, you will need to honor the terms of the existing lease.If there is not a valid lease in place, and they are there month to month, you can simply provide them with a notice of non-renewal (make sure to follow the proper length of lead time required by your state). 

BUT the ordinance in independence is extremely easy to pass.

Our start wasn’t easy, fell into our first rental – it was a failure…however the learning experience helped get us to where we are today.

I'll throw out 3 fairly easy and FREE optionsOption 1:  Directionally you can use Zillow, Redfin, etc. 

Is it easy to rent?

I thought an easy turn-key rental was a safe first purchase, and Bossier City where I bought isn't an expensive market and has Barksdale Air Force Base, strong growth and new tech jobs moving in.

As you have planned, as you start accumulating more and more equity, it would be a good idea to get an LLC and properly manage the LLC to get the desired protection.

Another relatively easy way to know for sure is to have an appraisal done.

Hi BP'ers,I'm in contract to purchase a property in the Easy Bay and I'm working with several partners on the deal that are contributing capital.