Of course there are financing, closing costs, taxes, insurance and utilities during your hold period that reduce this to your 'net profit' something less Some would say 70% of ARV is a great deal.

But ....banks aren't typically landlords...Trusts are used for structuring (I suggest removing trust from the mailings and send to the owner/family)Property Management is too broad and will most likely end up in the trash.

I wouldn't want anything commercial mixed with rental.. to much foot traffic, Laundromats are huge utilities to run and to keep up with mechanical fixes.. and lots of stupid sit in and wait traffic.. big drug potential unless you have a staffed location.  

His records were inaccurate and he hadn't been collecting rent, and the building was stealing electricity.If/when I decide to sell, I'm going to provide rent roll and rents collected, utility bills, repair receipts, etc.

Is it typical in the area to have that large of a barn with that little acreage?

They typically meet once a month or a quarter and it's a great way to find a mentor.

Typically down payments are less than $2500 and at $2500 that may be highI have not seen many CFD's where buyer was putting $10,000 down.

I honestly didn't have any idea how much law/medical school debt typically is, and didn't I think about looking it up.

So many people here (typically first time investors) always talk about having $xK to invest.  

I'd be able to cover the loan payment based on what I'm typically offered for a housing allowance.