Two closings, plus all the fees and interest. 

Don't skimp on legal fees because a commercial lease is a very different animal from residential leases.Good luck!

I use Quickbooks and personalized the standard QB invoice to read "Rent Due" and added our late fee policy to the bottom of the invoice. 

However, the fees associated with an Improvement 1031 Exchange (also referred to as a Build-To-Suit 1031 Exchange or Construction 1031 Exchange) would not justify doing so for only $10K. 

Gas, common electric and water for a 2-unit is going to run you between $200-400/month depending on the heating type, the size of the common areas, amenities (dishwasher, washer/dryer), etc.2) 5% PM fee is not going to happen.

Which they have sucked the equity out of, manage and charge a fee, all while you think you are sitting back and making a decent cash flow.

And, of course, it's not free - you have to pay administration fees, find an independent trustee, etc. 

The SFH is outside the city limits and taxes are much cheaper and the condo regime fee is a killer.The condo is vacant right now and in good shape to sell.

The owner will have an idea of what their terms are so be prepared Owner financing has a lot less costs than a bank  including  mortgage insurance ,lender fees etc 

Is there a way to avoid paying the CA $800 franchise fee since I do not file CA state income tax?