Seller had tenants who were paying low rents, I saw an opportunity and placed an offer then I got the property and increased the rents based on market rates.

@Caleb Heimsoth yea I'm not a fan of variable rates with the likelihood of rates increasing 3-4 times this year.

Do you have more information about the deal, like the returns, the rent increases, what is your exit strategy, etc.

in south killeen (closer to austin)  for less then 20 years old properties there is definitely a significant apprichation increase in the past two years for all kind of income properties 

Real estate is less volatile but also illiquid, and leverage can increase your returns but also make a downturn more painful.Show your wife that doing both is a smart and useful way to built a diversified portfolio.

We currently live in Chicago, but my wife grew up just outside of Cleveland so looking to invest in Cleveland.I had been looking in Lakewood, but it appears that house prices have increased significantly and that taxes are quite high.

This will allow theIRS to obtain the FMV of your account and see if there is an increase or decrease in your IRA value at the end of 2017."

Notice requirement for either party to end leaseI would also ask for about 90 day notice on rent increases so the doctor can plan accordingly. 

The tenant attorney and tenant rep broker of course will try to do the opposite of what the landlord wants in ultimate guaranty security of lease, annual rental increases, and long term primary lease term.If you left it up to a tenant they would try 3 year primary lease, blocked rent increases so not annual, sales clause if not at certain level they can terminate or reduce rent, co-tenant anchor clauses, crazy broad restrictive uses for other units in the center, no personal guarantee, no disclosure of personal or business financials per the lease, set up a single entity remote LLC so they can bankrupt it for one location if things go bad, put a ROFR clause in the lease, incapacity clause where if tenant gets sick or hurt they can cancel lease, construction road widening clause where tenant can pay reduced rent while access is reduced to the center, unreasonable CAM cap clauses, etc.I can go on and on with the crap I have seen in leases for my clients buying retail centers where I am the broker.

RUBS is essentially an additional rent increase.