SFR was broken into, how should we handle things moving forward?

[Tyler Mutch]

Hello,

I have chosen to invest in Milwaukee, Wisconsin area, and I am not surprised that the rental was broken into. Let me clarify, it is not my rental it is my fathers rental that was broken into. I learned about real estate about 4 months ago now, and he has been involved a lot longer, although generally through our primary residence, he has made a profit on each of the houses. Right before I entered the realm of real estate. He decided he was going to invest in buy and hold properties. Needless to say he bought a property in a higher crime area because when he traveled through that area he felt safe. I have since checked the crime area it is an orange to red crime area, that is why I say I am not surprised. Also, being the first rental property we foolishly neglected to install a security system in that neighborhood. So, my question is about the next step, do we simply take this as a lesson going forward and install a security system, or should we sell the house? ( I think we could make about 7k profit if we sold the property currently). 

Thank you in advance for any input/advice anyone may provide. 

[Ramon Jenkins]

Yes, their huge difference 5th , 27th, 40th, 75th, 93rd, 107th Burleigh 

I personally wish investors owners would spend money to replace exterior lighting to deter 

issues.  ( motion sensors )

My preferences :

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 

1.) Security alarm system

->  Long term tenants hopefully, tenant responsible for wall repair when relocating.

{ security deposit deduction, if need }

2.) Front and rear entrance Steel security doors not paper thin storm doors

3.) Glass block basement windows

4.) Several motion sensors exterior light fixture

As usual I agree with @Bob E. regarding creating note for your parent purchased.

Time will tell what directions the current economy will go into with regard  

to seller financing within next year.