Another reason why I would like to move is because I have a 1 hour commute to/from work (2 hours total)...plus rising gas costs and frequent oil changes.

@Shalom ShorePlumbing issues can happen anytime but what we have found, when taking over old properties is that there is most always a backlog of deferred maintenance-- and plumbing and appliances are a frequent offenders (probably due to expense).

They frequently do their own evaluation of value and you don't wait for formal appraisals. 

Given your audience, your role, and your potential liability, I'd do the same in your shoes.But I do so enjoy questioning things, analyzing, looking for flaws, and having my own exposed and corrected. 

I will be hosting weekly Bigger Pockets events in English and German in Cuxhaven, Bremerhaven, Bremen, Hamburg and especially online, to reach a broader audience, shortly. 

If you are having to evict so frequently then it is obvious to me that during the discovery phase of the application, the PM is not doing their due diligence as best they could.

He was begging the developers in the audience to start shifting over to condo builds instead.

On the podcasts, the term refinance is used frequently but I am not sure how it applies to this situation.

Unless there is something off the books on this deal, my guess is IRR will likewise be unimpressive when compared to money put in a hassle free investment like S&P Index Funds.In regard to your other questions: S&P Funds can and are frequently leveraged via margin accounts. 

I am attaching this part of the lease for the audiences to see.