$9 per month, free for tenants since you are paying on your end but hey, charge them if you don't want to eat the $9. 

Who may be ready to take a discount, motivated, desperate, foreclosures, auctions, expired listings, FSBO's, tax certificates.You are not looking to buy a property (house or commercial building), Nope ----- you are looking to control an EQUITY - "How much EQUITY is in the deal - HOW much of that EQUITY can you control (without the obligation to actually buy) How fast can you get to settlement without messing around with agents and DO-NOTHING INVESTORS, or lenders who want to eat up your equity?

Could get into it cheap for a buy and hold but flood insurance will eat up cash flow.

I should apparently eat my words because ...

Record low cap rates should cause anyone pause, but if you research historical cap rates there seems to be about a 2% variable over the last 50 years, so i buy at a 6 cap today and then need to sell at an 8 cap 10 years from now...ouch, that eats a lot of cash flow, but waiting 2 or 3 years also "eats" potential cash flow.If your margins are thin at purchase and you need to reup your loan in 7 or 10 years at much higher interest rates, can that in of itself cause problems?

We are splitting the profit 50/50 and then of course taxes will eat up quite a bit :/ But still not complaining!

Sounds fishy he’s refusing to cooperate with a buyers agent......the lender eats the commission in a short sale, not the owner.

However, a trip to the US would probably be enough to eat up most of your profit for the year if you are doing such a small, or low-priced property.It's better to find a syndicator with a good track record whom you trust, and invest passively with that person.  

Will those dollars reach Joe Six pack's disposable income or will needs like house and healthcare eat it up?

Fire them and immediately get somebody else out there before the holding costs eat you alive.