The furniture is included in the existing lease that will remain in place with the new owner.The clause in the lease states that the tenant will "return furniture to landlord at the expiration of lease."

However the first floor is rented with a long term tenant who has invested in decent appliances and furniture so probably will want to stay for foreseeable future- but they are about 20% under market rate for rent, and are month to month.So-Do I:1. terminate the tenants lease rewire the whole building top to bottom?

Owners spruce up their units and then, when they sell, the furniture, pots, pans, silverware, etc comes with the sale.

Flooring over 5 years. etc.Here is a chart of such items.Type of PropertyGeneral Depreciation SystemComputers and their peripheral equipment5 yearsOffice machinery, such as: Typewriters Calculators Copiers5 yearsAutomobiles5 yearsLight trucks5 yearsAppliances, such as: Stoves Refrigerators5 yearsCarpets5 yearsFurniture used in rental property5 yearsOffice furniture and equipment, such as: Desks Files7 yearsAny property that does not have a class life and that has not been designated by law as being in any other class7 yearsRoads15 yearsShrubbery15 yearsFences15 yearsResidential rental property (buildings or structures) and structural components such as furnaces, waterpipes, venting, etc.27.5 yearsAdditions and improvements, such as a new roofThe same recovery period as that of the property to which the addition or improvement is made, determined as if the property were placed in service at the same time as the addition or improvement.Property taxes go on Schedule A.

I don't know if anyone could move furniture upstairs.

We also prearrange for storage at a nearby storage facility.The sheriff approaches the property first, determines if there is anyone inside, posts his legal document then steps aside and stands guard as our locksmith gains entry and changes the locks (some landlords to the locksmithing themselves), our movers start moving furniture to the van and we pack up everything else in boxes and bags.

@Samia BinghamSamia - Would you be able to elaborate any more on the present setup you are involved in/have the option to purchase.This type of investment interests me quite a bit as locally it seems to be a niche that could be filled, I'm sure plenty of other locales this works in as well besides established markets.What I'm interested in, are rents paid (if you know the ranges possibly) roughly the space someone gets for the rent, what perks they get -- is there coffee, virtual receptionist -- how is the office decorated/set up - any furniture supplied by landlord, can you pay online, terms of leases, bathroom set up -- do the tenants have to pay for web access or utilities, housekeeping, any fights/spats between neighbors, what type of tenants make up the mix.Really any insight from your experience would very much be appreciated.  

The property is also appreciating in value so that’s a plus.When you came up with the $13,000 carrying costs, did you factor in maintenance costs such as new furniture, paint, toilets, bathroom/kitchen faucets, etc?

I am concerned that the tenants could put furniture too close to it and cause a fire.

She asked to repaint the interior to match her Tuscany furniture...I said no problem, we both go to Benjamin Moore and pick out & agree on a color, I go hire a contractor and get a quote.