It looked and smelled like a group of meth addicts were having underground cage fights there.

Please be prepared to spend a little (padding, insulation, etc) to keep any good downstairs tenants from fighting with upstairs tenants over squeaks and overhead noise.Don't let foot fall noise blind side you.

I've been raising my rents $100 to $150 this year and still have tenants fighting over my rentals.

I can tell you from working in land development do not get greedy.There are ways for the city and for a developer to get your property for less if you give them trouble.If it's a fair offer you take it and call it a day.If they are trying to steal it or buy it for less than you could get for development yourself then you fight them.You don't give it away but for a fair offer you agree.

I can sense people would say, "What if the Seller fights you on sales price?"

Everything needs to be covered so there is no fighting, bickering or finger pointing at a later date.

Someday you will be able to tell others about your horror story and how you either got out or stayed to fight another day.

We entered into an escrow deal with the bank on a single family REO, placed the funds in escrow, then had to fight for months to get our money back out -- it was like paying double for the repairs as we had the money held up in escrow but then had to show a receipt and proof of work done to get our money back out, and somehow the bank then said they decided to put the escrow funds toward the balance of our loan instead of returning it to us after repairs were made, and it took months to get our funds returned instead of credited toward our loan balance like they wanted.

The 2nd came in at what I paid for the property, i had to fight that for about a week, had it thrown out and then the 3rd appraisal came in over the sales amount.

That way, you'll be invested and will fight instead of quitting.