Loan:$20k down, 3 year balloon, 4% interest amortized over 30 years.Sale: $727,000This was a 4 unit property located a few blocks from the beach in Panama City Beach Florida.We decided to sell due to the amount of work needed with no renovations and sold for $727,000 less than a year later.

Letter of intent to the owner? 

Overall they WERE problem free tenants until yesterday when we received a letter from an attorney stating one of the three brothers has been arrested for possession of child pornography. 

These allrequire applicants to submit an acceptable Letter of Explanation addressing each specific issue and occurrence.Rental HistoryBecause a current landlord may say anything to get rid of a bad tenant out of desperation, we also requireinformation for the previous landlord of all applicants.

Assuming the floor is concrete, you're probably going to have to seal the floor to block the odor.

My duplex had an additional unit built in the basement and discovered by city inspectors when a neighboring squabble caused buildings department to check houses on the block and my house had 3 mailboxes out front.

Haha,I was famous there once upon a time - https://9now.nine.com.au/the-block/i-doubled-my-money-on-aus...Negative gearing is buying a property where the rent doesn't cover your mortgage.You tally up the total monthly losses and let's say you where negative $30,000 for that year.You earn $100,000 from your salary that year.But you would only pay income tax on $70,000 as your property was negatively geared by $30,000 for that year.Make sense?

I have never been sent a letter from the city regarding this. 

I hand wrote letters to properties in distress.  

Put up a fence or plant some trees to break up/block the view of it.