1st 2 months = Cash for Keys, Destroyed Bathroom, and Marijuana

[Ian Tvardovskaya]

First, thank you to everyone. Everything I know and overcame below is because of this community. Much love and respect. 

Begining of autumn I bought my first rental, a duplex, but didn't ask the right questions. Everything looked great, why question - 22% ROI, 1 long-term tenant, leases that extended through the summer, and no repairs needed.

What I learned when I bought: (1) I had mice; (2) lease violated almost every law in Ohio; (3) rent was not "late" until the 15th of the month; (4) gutters were installed wrong and front porch roof was damaged; and (5) the bottom tenants decided they didn't like the house and were not going to pay rent. 

Since I was legally required to wait until the 15th of the month to give the 3-day pay or quit notice- and couldn't enforce my late fee or indemnification clause - I decided to pay cash for keys and get the unit back Nov. 8. Inside I found the tenants had destroyed the bathroom tile and left me a bag of pot which took me 8 hours to turn into the police. 

Today, I'm happy to report I have no mice, the gutter is not doing more harm till it can be properly repaired in the spring, the bathroom and kitchen were repaired for $140, new, qualified tenants are moving in on December 1st under an enforceable lease, and the rent was raised $25/mo. Now all I have to do is pass my law exams! 

*EDIT* Marijuana is not legal in Ohio and landlords have an affirmative, statutory duty to turn in any illegal substances found on their property