Brant Richardson, thanks, i realize zillow is not the most accurate for determining values, just needed a quick reference in order to post some numbers (i usually use at least 3-5 sources)...when i get a chance i'll update with more accurate #'s on value...Bottom line is stopping the bleeding @ ~ $800 p/month.John T, the home is a single family home 2032 sq/ft 4 bed/2bath 2 car garage built in 2000.

I'd tread carefully there as well because you also certainly do not want some bleeding heart legal aid attorney getting the impression that you are some "evil landlord" that evicts tenants with depression and/or mental illness because you don't like ESA dogs.

I am guessing(only guessing) that since this is a slab foundation, and you indicate there are issues with other houses in the neighborhood that these foundation damages are due to shrinking and swelling of active clay soils.

(and they will get wet)However, since so many people are having to replace that "good looking" garbage, I have been able to get lots of it for free or from craigslist or yard sales etc.I solved the water swelling problem by painting all of the edges with used car oil as I install each piece.

These properties will bleed money."

The NOI currently stands at $810($900*.9) - 60 (insurance) - 100(taxes) - $135(15% for repairs/maintenance) = $515cashflow = $515 - $587 = -$72 So yeah, we are bleeding money.I'm sure I can reduce expenses and raise rent to get it in the green, but I think I'll plead my case to the previous owners to drop the interest rate down to 4% which would make it return our investment in my lifetime...

So I have read this blog until my eyes have bleed and have actually learned a lot.

Well, that would be swell.

Only bleeding about $100/ mo now (before tax) which is a big win sadly.Looking to take the experience I've gained from this property, and combine it with new skills acquired through resources like this community to move forward with new investment properties... perhaps even ones that put money INTO my pocket.Looking forward to getting involved.

I’d rather spend a few extra dollars on cabinets that won’t melt and swell if there a small leak.