I think the original rent rate was around $700/mo so given that and 12 yrs of continuous rental we have now cracked $100,800 in gross income.

Yes, of course you can buy an existing retail business with existing employees.

every time i deal with one of these guys that disappoint me, i tell myself that i should go back to doing these things myself. i know how to do them and have done lots of projects, but i am trying to get away from that.J Scott is right, but he is saying it becuase he has a great crew that he could rely on. most of us are not in that boat and struggle to find good help/people.i am just lucky that the guy i was using finished the windows. otherwise, it would have slowed me down a week until i found someone else that could do the job. the last thing i wanted is to change conractors in the middle of the project.btw, his bill came and some of the prices are inflated. some are new items that we never discussed. i think he thinks i will not notice. he even left money on the table since he had the chance to finish 1-2 slabs of driveway concrete for $1k, and will not come back. there are many mistakes/gross imperfections with the drywall he did, as well as he did not cleaned up AT ALL after himself, so i will be reducing the amount i pay him. the truth is i just wanted to reassure myself that i was doing the right thing by deciding it's time to part ways. that was the reason of this thread.

The Contract Sales Price described on line 401 above constitutes the Gross Proceeds of this transaction....Of course, the HUD1 only has a space for SELLER, not for the wholesaler, to sign for that ...

The HD employee at the Bid Desk told me that they are in the process of totally changing the way they operate commercial sales.

At $3,600 a month gross rent, your maint/expenses will probably be around $1,800.

In our second year we're doing ok, grossed about 150k last year and netted in the 80s.

Make sure their income is at least 3x the gross rent and have a stable job.

Per the standardized Fannie Mae/Freddie Mac deed of trust, invariably they say (e.g. clause 22) in a power of sale remedy "...Trustee's fees of ____X % of the gross sale price..." where X is often 5%.

I have not worked on a rehab in 5 years, but we have 31 full time employees who operate like one heck of a team and they get all of the credit.