Maintenance is an additional cost. 

Any additional inputs are very much appreciated!

Additionally, when talking "Cash on Cash" and Cap Rates with other investors, is it typically assumed that a Cash analysis on Cash includes the types of expenses I list below?  

The upside is the rents are below market value and there's an additional revenue opportunity with the parking spaces (they say there's 7, but it looks more like 4-5, realistically).  

I would tell them your concern about vacating and you having to eat the costs of an unexpected turn over and that you would like to help them with their new exciting addition to the family as much as possible.

We can all agree that this real estate game is about consistent action and at times if our actions aren't successful we / I tend to be less productive and even stall at times.If you're like me, let's be accountability partners so we can close some deals!!!

I would not recommend doing the design part yourself unless you are extremely familiar with current trends, picking materials, coordinating colors, understanding product specs, and building code for that matter.

I posted this in a different thread, but I'll add it here as well:If your business made payments to an independent contractor of $600 or more during the course of the year, you are required to issue a form 1099.

Software changes are occurring all the time and so a lot of older posts could very have outdated info, surpassed with newer/better versions, newer products (hopefully!). 

If it is far away, then definitely hire out to a mange company so the property maintenance is somebody else's problem.Just focus on income production.