Big red table cloth flag!

We want to know if they are likely to have sufficient income to pay rent, utilities, and other basic needs (food, clothing, medical expenses, and transportation).

After the tenants moved out, his roommate told me that place in the closet was where the guy had always thrown his sweaty clothes after working out in the gym. :-)

The opening is a regular door (not a closet door) so its narrow, but goes back pretty far.The current tenants put up 2 clothes bars, one in front the other and there is still room to step in and close the door and not touch the hanging clothes.

I could use a little more advise on ideal cap rate- I'm shooting for 15%+Other fees-HOA- $197Estimated clothing costs- $4,500I will be managing the propertyTaxes $1,800Everything has been updated so no renovations for the first couple years

I've been Craigslisting the furniture, and I will be spending the summer on eBay selling all his clothes, tchotchkes and technology equipment.

If the soil is sandy like it is here in the Central Valley California you will have to put down weed cloth or something like it to stop the rocks from sinking into the sand.

I've also completely separated out my personal and business finances and only use my personal funds for any personal purchases (car/vacation/clothes/etc.) and keep my business money growing and working on the business.

But, there are some wolves in sheep clothing that will try to manipulate you, and play you for a fool. 

Janesville is a very small rural communityI would suggest you look into their unemployment rateBeing a Whitewater grad :~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~We would go to Janesville for our mall / clothing shopping before Wal-mart moved into town FYI : years ago - Chrysler use to be main source of employment in Janesville