I would advertise and re-rent the unit and retain that part of the security deposit not used to offset the lost rent.

Quote from @Michael Carlson: Quote from @Jaycee Greene: Quote from @Michael Carlson: Hi Biggerpockets community just wanted to check in and see what you guys thought of this deal490k purchase price duplex in Morris county at 6.5% for 15 years.

Then you can breakout to do your own deals with the information to estimate rehab costs by just looking at the deal at face value with all that new knowledge from the partnership.

You're just making profits for the lender.You could also sell #2 if you bought off too much house. 

Bobby Thanks Bobby, appreciate the feedback.

@James Wise I began investing in Cleveland (from NY) this year, and I was following this grading guide for a while!

If your LLC is not registered in the state where the property is held, it may lose the ability to bring an action, such as a lawsuit.

You are renting a home and not just a house.

The more reps you get the more you'll learn.  

I have a client who wants to rent his home for 30 days or more, but not full year leases, just a few months at a time.