The utility bills, water and heat, are going to eat your lunch.  

Hiring a lawyer is going to be at least $500, probably going to have to eat it.

Wouldn't that eat up all (if not more) of cash flow?

I should just leave it at that last post an shut-up but somethings eating at me...I read all your comments on this thread and you don't sound like a dumb guy.

Also, If I go with a conventional loan I would have zero money in my savings and any account since the closing fees, and everything would eat all my cash reserves.

Even if it is waiting to make a profit when you sell; you still need to eat. 

I would have never thought that anybody would be so disrespectful and hang out their laundry in the common area where people sit and eat etc. 

. :-) :-) But, don't try that at home, if you don't have the upfront legal fees available, they eat you alive.

Not all custodians support the IRA LLC as it can eat into their fee revenue by eliminating the need to have the custodian process all of the transactions.

now the monthly payment will eat nearly all of the cashflow that this place produces,roughly $100 per door (all interest and payments go back into my 401k minus some small fees).Would you take a deal like this?