Just saw this on this news.This is a huge loss.I would imagine this is due to lack of suburban non vacation rental travel?

I can imagine that if you look at large markets over time, these effects average out and you can get some snapshot of the risk in that market.

I imagine that if our basement wasn't furnished and we offered it simply as a long term rental, we would maybe get somewhere in the $1200/month range. 

Thanks for the inputI’m awaiting a quote, but while waiting, wanted to get input on experiences with regards to code consultantYour point is well taken, and likely we will at least bring him on in some capacity It appears he has the possibility of being part of the project through construction, which I imagine would carry significant costs 

I read $10 or 5% of the amount due which ever is less, I cant imagine 5% of any rent due can be below $10.

Let's imagine I have $100k to invest in a $300k property.

Let's imagine I have $100k to invest in a $300k property.

I would imagine it would be a conflict of interest for a code enforcement officer to work with an investor, but maybe I am misunderstanding your question.Either way you know how dogs get that ridge of fur standing up their spine when they are upset and afraid? 

So if $100 kills your profit, you can imagine what the legal fees will do.

I like the cash for keys idea, I imagine it's something we want to work out with the tenants prior to closing.