Pay off debt .

If I identified the offender, I would probably bill them back for the wasted water and when they didn't pay evict them, or non-renew them if their lease was near the end because that is simpler. 

The last one told me I'd likely pay a small fortune for this policy. 

Now, you need to figure out how to find deals and pay for them.

This allows you to use all of the tax and deferred depreciation recapture to purchase the larger MF propertyA consolidation exchange is where you sell multiple investment properties to purchase a larger and nicer investment property, but you also get the benefit of using all of the tax you would have had to pay to your advantage.

The prices in the markets we looked at i.e. troy, Schenectady and Albany all had great prices and rents were inline but kept coming back to "what if the tenant doesn't pay". 

I've never been to a pay laundry that didn't take twice as much drying as washing but not 10 times.   

What would I need to do to structure the note in order to have a note buyer come in and buy the note or buy a partial enough to pay off the 215k at closing and still have some difference coming to me or the note revert back to me after the partial was paid for. 

Quote from @Leeling Chew: It doesn't matter who pays the bills.

On these very forums you hear countless stories of "I lost 5K and can't pay for me medical expenses".