Removing the excess property insurance leaves total Administrative expenses of $3623.4) Utilities (common area electricity) - none provided but using January and February of 2014 numbers, which average $42.50 per month, I'm sticking in $510 for this expense.Total Expenses (as is): $31,662NOI = (6,722)Total Expenses (with above noted adjustments): $10,479NOI = $14,461Currently, the property is 100% occupied with each unit renting for $525.

Keep in mind, some agents may cherry-pick comps to make a property look rosier than it actually is, so you want to do your due diligence and make sure the comps you're provided are actually comparable and make any adjustments as needed (similar to an appraisal).If you can't get comps from the realtor, move on to another realtor.

You may have to adjust for that.

Best bet would be to participate in a local REIA and find a real estate attorney who is familiar with REI practices to look over your contracts.

She's done more deals than all of us on BP put together I'd bet and she explained all here regrets of doing 1031s years ago as I mentioned.

Finding a good, honest and reliable property manager would probably be your best bet if you do not have the time to manage the property yourself.

You can then refer to a statement similar to the one above explaining why the adjustment is happening.

I like having an agent that I can talk to face to face and adjust the policy to suit my needs.

There are a lot of Spartanburg landlords in the room, and I bet you cold talk to some of them about buying one of their deals.Best of luck.

You bet it did.