Probably not helpful here, but will throw it in anyway. Back in my working days I became acquainted with a small building construction/ real estate owner outfit. Father & 2 sons operation. Beside doing construction, they owned a mix of residential, commercial, & farm land. Not a hard rule, but a starting point. This was in southern Mn, close to Paul, Flying Belgian, & Kow Farmer. The old man said rent income should be 1% of cost monthly. That would pay for the investment, real estate taxes, insurance, upkeep, & a reasonable profit. Eg: a $500,000 commercial building should bring $5,000 rent monthly. Single family residential they wanted 3/4 of 1%. Farm land was split rate. Tillable land brought 1/2 of 1%, while a building site brought 3/4 of 1%. Tillable land was taxed at a lower rate than building sites, & didn't have structures to insure. A 500 acre farm with 5 acres of buildings would be 495 acres at 1/2%, while the 5 acres with house, barns, sheds etc brought 3/4%. Being in the construction business, they had a close tab on their costs. Times have changed somewhat, interest rates are a lot lower now. Also farm land prices & building construction costs are higher now. Willie
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Today's Featured Article - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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