In through the nose, out through the mouth.Again...In through the nose...hold it...out through the mouth.Now that you have calmed down a bit, what type of properties are you looking to purchase?

My best investment was a set of "fractured condos" like this.

They will smoke in the house "a few times" and be convinced no one could possibly smell it, because their own noses lost that ability from years of being 2 inches from a burning cigarette.

If they are not there is no SE tax; however, SOMEONE has to be subject to it.

Replace it in the pack for the next smoke.And, if someone falls asleep, put some shaving cream in their hand, then tickle their nose.

Junk houses are still readily available, although they seem to go more quickly, too, compared to 1-2 years ago.Besides that, I thought there is a realtors code of ethics that also says they should forward any offer they get without prejudice, including offer price, hair color, and shape of nose.

In addition to the above expenses, you will have to set aside money every month for CapX reserve, usually $350-$450/year per unit, and you need to calculate the property taxes that YOU will pay going forward, not the taxes the owner has been paying.When you use the correct numbers to calculate NOI to arrive at a value, then deduct needed up-front capX (which will likely have to be paid in cash, not financed), you will probably then realize why the property didn't sell to a professional investor on the brokers buyer list before it was listed on Redfin.That's just my two cents, maybe this is a deal of the century sitting right under everyone's noses, but the odds are against that.

So forgive me if it was right under my nose.

As a fractured condo, your valuation and marketability are significantly impacted.

If one of these tenants thumbs their nose at you, then you screwed up in vetting, IMHO.