You best bet will always be to track down motivated sellers directly.

Throughout the United States, operating expenses (including capital expenses) run 45% to 50% of gross rents.

If the listing agent's co-operating fee does not meet the minimum, the buyer is responsible for the difference.

I do agree with Edward that your operating expenses will be higher.Your return after 4 years will be about 11% per year.

With the rental income being $1600/month, figure operating expenses of $800/month and Principal+Interest of $785/month.

Hiding or being allusive about how your business operates is unethical, maybe illegal depending on the laws in your area.There is nothing wrong with a business capitalizing on relationships the business has built.

That is amazing - and I bet many people on BP would qualify.I also learned mind blowing stuff like: did you know you can 1031 exchange OUT of something you own INTO something you already own?

I mean if they don't like Pizza do they call the FBI on the local pizza joint for sending a menu, or Dominos (Since they operate across state line I think it would be a federal offence...)?

Your best bet is to give him notice and hope he just leaves without causing a problem for you.

What order of operations you put these in will not matter much.