To get a NOI you need operating expenses.  50% rule is for determining cash flow.  

Hopefully you will have no trouble finding one that support you with strong staff, marketing and training.

As a business entity such as an S Corp or LLC, you pay part (deducted from your paychecks) and the business pays part (as an operating expense). 

He argued that since he was not the owner or operator, but simply the manager, that he shouldn't be held responsible for the property conditions. 

I like to think I know what I am doing, but please put me in my place if these numbers are ridiculous or anything I state is impossible, all honesty please. 2 Bedroom 1 Bathroom 800sqft home In a nice neighborhood, good town, and access to NYC via train station in townThis house is for sale by owner or $199k Let's say I get the house for $175k, 3% down payment which is $5,250 + 3,000 closing costs and whatever else = $8,250Monthly mortgage payment, tax and insurance is now at $1,162 The house seems to be in great condition, with a new porch in the backyard The houses surrounding are in the high $200k - $400kI believe I could get $1700 a month for rent if not a bit more, considering many of my friends who have 1 bedrooms pay $1250 a month for rent. 

If WF is driving this train it may not be anything that can be done if this is the hold up.

Welcome to BiggerPockets @Randy,I am relatively new as well, but already feel at home here, Interested in buy and hold multi family properties and short term letting.Best of luck expanding your operation.

@Rich Ngyou can have one account for all of your security deposits as long as it is separate from your operating account.

More info here:"eXtremeFREEDOM is an exclusive live training event that will be held in Glendale, Arizona on October 16th – 18th 2015.

Glad that I found mine at Royal LePage in Mississauga, where I presently undergo training.