I understand building in additional income, but I think you are doing a long term dis-service to yourself in that respect.  

The tenant is a quick service restaurant and is corporate entity.  

Otherwise, if you plan to hire a property management company, I work for a full service management company and I'd love to help you out there as well. 

Depending on your area typically 0.5-2% response rate2) Cost-effective way is to send the first batch first class, harvest the dead leads and remove those from your campaign, then mail standard for the rest3) Opinion is that you should shop around because quality, price, and service differs between different companies.Regards,Ray

Also you may be required to upgrade the water service in it is less than a 1" main or is found to be lead.

please don't use service monkey. the use Java script and other types of tracking software.

The benefit of renting is all maintenance/repairs are included. 

I find that providing a good product, with quick service when a maintenance request comes in and a sense of respect really goes far with these type of people. 20-30% cap rates with low stress are possible in these areas.

Add to that the building was built in 1900 (it survived the 1906 earthquake) and it was becoming a significant constant money pit because on-going maintenance required. 

You should be able to pay them all off in 4 year-ish with an additional $10k of principal pay down. 4) In 4 year, your net cash flow will increase to $6,800/mo ($3,200 now + $3,600 once the mortgages are paid off).5) If you set aside $1,800/mo for repairs and maintenance, you should still clear $5k/mo or $60k/year. 6) Once you're there, you can decide how you want to spend your time each day.