Remove those 2 items and R&M is $5202.However, I question why seller would sell the year after incurring such an expense?

He said they were good tenants and operated a store in his strip mall and he didn't really know anything about them.

The buyer closes on his HUD-1, sale price is 27K with costs of assignment as a separate line item of 10K.

The items need to be repaired/replaced to bring this to a C4 or better condition before we can close on it.

Most IRA custodians will make you hire an outside property management to handle these items, as well as paying the bills.

Attached to the home is a variety store which is not in business any longer - vacant.

Sometimes the improvements we are making to the building are not a tangible item the resident sees, such as new shingles, replacing the boiler/water heater, or fixing sewer lines.

Hi Jeffrey,15k to 20k for buying commercial long term it just isn't enough to get started.Legal fees, points, closing costs, due diligence alone will eat up most or not all of your funds.There are maybe some small mom and pop type stuff in little rural to suburban towns where you can buy a commercial property to get started maybe a small office building for sale for 100,000 sales price etc.Anything with a corp. tenant even for the dollar stores you are talking at the low end 700,000 purchase and 25% down.

@Josh JustinianoThere are a number of threads on this, one of the more recent which includes my favorites is here:http://www.biggerpockets.com/forums/432/topics/93106-top-multifamily-investing-booksIf you enter 'apartment books' in the search box at the top on the right of this page it will bring up about 130 additional items too.Good hunting-

Disposal of fluids can be done properly, it's when they aren't you can have an issue.Noise is another issue to be covered generally, so revving up an engine constantly (as if they think they know what they are doing as old hot roders did) can be a noise issue.My lease prevented the tenant from keeping any inoperable machinery on premises or parts thereof, which meant all vehicles, lawn mowers or any gadget had to be operable, vehicles had to be titled, licensed and insured.The outside had to be free of clutter, trash, salvage or personal property not designed specifically as lawn furniture or for outdoor cooking and such was to be stored from view from the street when not in use.Those types of covenants will take care of a vehicle on blocks or an engine sitting in the yard.I wouldn't say anything about some minor repair being made to a vehicle, where do you draw the line, changing a windshield wiper or adding fluids or pulling the transmission. so long as it's done in the day and operable, doesn't cause toxics to spill, doesn't produce unwanted annoying noises, isn't a safety issue, is kept clean and neat, what's the issue?