Hi @Amit Arora - Welcome to BiggerPockets - it's great to see more folks deciding to get into REI!

New investors be warned that you may be getting into something that misunderstand grossly and often times this lesson can come with a dollar sign attached.There are many threads on this topic here.  

@David Bokman thanks for the warnings.

:you cannot control the cleaning agents the tenants use.Shouldn't be a concern as long as you first warn them, and have a proper security deposit.

@Sean Kollee - Not all foreclosures are good deals, be warned!

My broker told me that's deceptive practices and I can warn them to remove it before reporting to the state and cause them to lose their license.

I typically warn my clients to think twice before taking the loan out.

If everything works out in my favor and they do go down, I might even end up making money off the deal if I rent the "efficiency".I know this is an extensive post for a possible basic question but as time is limited I wanted to make sure you experts have all the details of the situation and how I am thinking.If besides of my previous two questions you have any advice/warnings/questions/etc please feel free to let me know.

Parker Styles gives a very important warning that all new investors should be savvy to.

Give a written warning to stop usage in the garage and tell them within the letter where the use would be permitted (if necessary).