We start the process in my organization at a $250 default.

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The vast majority of licensees don't do any business.

This could be minor, or major work that we wont know about until that inspector comes out. 

I considered sound proofing the ceiling of the unit below but I’m reading articles saying that it can be very pricey and it won’t make a major difference.

Any major bank has this account.  

This market is growing rapidly, it's a state capitol, and we have two major universities.

One of the major issues I see is this.

I'd definitely recommend considering the Columbus OH market - it's got strong macroeconomics with major employers coming in and developing here, steady population and job growth, and prices that still make sense for cash flow.

Most of the time, we resolve the situation in less than three months through cash-for-keys agreements, court mediation, or by creating enough pressure that the tenants decide to leave on thier own.We currently manage over 700+ units and flip about 20 multifamily properties a year, the majority of which have inherited tenant problems.