The most common scenario if you don't remedy the situation is that you would have to replace that portion of the roof sooner and that some of the roof decking will have dry rotted from the condensation forming on the underside over time.

Of course closing was last week and the current attorney backed out, so the sooner the better, we extended the closing date to 6-15-19.Thank you

BiggerPockets forums is a great start, listen to podcasts on away games and gym workouts, join a local REIA in your area, jump on some webinars.  

The back unit is in bad shape (no immediate danger, but it's likely something major will break sooner rather than later) so we would like to serve notice to the back unit tenant upon closing and proceed with renovations ASAP.Can anyone recommend the letter/legal forms to use?

Not assisted anything, not providing meals, nothing at all just be over 55, active, put in a real gym and might even put in some punching bags just to make my point I am not their to serve them in that way.

If I drive around and look at other rent comps in the immediate area, the other rents are either AT or LOWER than the rents on this property, and this property isn’t nearly as nice as the surrounding apartment complexes (due to nice gyms, pools, etc).

I do not believe in paying down the mortgages sooner, or buying with all cash, but I am a little more conservative.They Work Full-time Outside of Real EstateBeing a smaller investor and not necessarily having huge amounts of cash flow means that often mom and pop investors make the majority of their income through other means.

Otherwise why not take the commercial loan and just get it paid off sooner?

Be patient, learn , don't lose you passion for Real Estate and you will reach the financial freedom sooner then you think .  

When I'm not working or learning, I'm usually at the gym or enjoying being outdoors with the family.