So, today, my wife gets a call from an ex boyfriend that she dated before we met.   10 years ago or more.  

Hello All,I am a 37 year old husband to my awesome wife (Bre) and father of one crazy 3 year old boy (James) and a soon to arrive baby girl (Kate). 

My wife and I are very calculated people.

I am asking 1000 security deposit and 875 monthly rent.Granted this is our first prospect, he and his wife are moving into town to take over a teaching/coaching position a the High School.

I work in manufacturing and my wife is a elementary school teacher.

Looking for advice on this deal as I have never done a commercial deal.Property type: Mixed use condominium (nonconforming use variance) 1500 sqft beauty salon lease expires next year, they are asking for 4 year renewal, 500 sqft storage stable income long-term lease, parking revenue in a poolSize: 2000 sqftPurchase price : $600,000NOI: $48,000 (7.5 cap, NNN)Location: Honolulu, HICondition: Good, HVAC just replaced, needs $10k in improvements to flooringI'm interested in the property because it's a high cap rate for downtown Honolulu.

My wife and I just moved here in March and are just getting our feet wet in the whole real estate investing arena.

That I can read to understand how I can make the realized income of my wife and I less.

In return we get 50% of the equity and 50% of the monthly profit.Also, to add to it, my wife is due with our 1st child on August 2nd!

So my wife and I bought two properties at the beginning of the year and now that we have the hang of things and the rentals occupied, what do we do next with those units?