Hello  @Thomas Sheehan,If your goal is to invest in an apartment where you don't have to concern yourself with maintenance and cap Ex, this deal (or perhaps another with similar rents and lower price) could make sense.The downside to deals like this is that your rents could eventually hit a ceiling as newer apartments (some with more amenities) become available.

We always leave those extensions and dates up to a client's CPA.

The concern is possible lead based paint.

Now mainly because of this boat, he is Not paying rent for this month and wants to leave(I'm happy that he wants to go).

When you say the older vintage properties cash flow better I’m concerned you’re focusing in on properties  in areas that are below today’s replacement cost but in areas that cannot absorb the required capex.

I think this way of thinking is a bit foolish and can leave thousands on the table.When I'm looking to process a renewal, whether for my own investments or for my clients, I start by completing an analysis on the tenant.

Let me address your questions and concerns step-by-step:1.

@Dakota Williams While it’s nice to improve the ARV and obtain appreciation for when you sell I’ve discovered that most of the time I can’t access that “hidden value” because to refi out the new value would leave the property with negative cash flow.

Or if you plan on staying in the property for a while, some people aim to just pay less than their current rent.In a real estate market where housing affordability is a major concern, house hacking actually stands out as an even more valid strategy than ever for buyers.

These are my exact questions and concerns.