If he knew the property was bad and wanted to get out of it, why would he keep that risk and finance the deal?

The upgrades that HAVE to be made for rentability vs. those that will hopefully increase rental income can definitely influence the response.What are people's expectations?

.#2 can be a bad option in the middle of winter when renters are harder to find.

I have found this process eliminates all the bad eggs before you even get to the interview.

I like the idea...it's great to strike gold during the gold rush, but also, it ain't bad to sell picks and shovels either.

It sounds like folks in this thread got bad deals and are blaming commercial loans instead of the lender who overcharged them.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Cause if he learns bad habits now, like living above his means or not saving, they'll be hard to break.

If you don't have a good foundation(bad debt paid off, $$ saved up) I would first focus on that.

So, 100 year old workforce housing on small lots in modest neighborhoods, but once you get used to the small lots its actually not bad at all.