You are in a vulnerable position at the moment and I do not think it is wise to make decisions based on emotion versus logic.

Available at: http://files.consumerfinance.gov/f/201301_cfpb_final-rule_servicing- tila.pdf. 9 PROPOSED REGULATORY PRUDENTIAL STANDARDS FOR NON-BANK MORTGAGE SERVICERS IT Security Risk Assessment encompasses:  Identifying the data that needs protecting;  Identifying the entity’s outsourcing strategy;  Classifying and ranking sensitive data;  Assessing threats and vulnerabilities;  Evaluating control effectiveness;  Prioritizing risks;  Assessing the probability of an event occurring, and the impact the event will have; and  Identifying gaps in internal controls.

Whatever you think about the tenant's personal habits, letting that water continue to leak in, you leave yourself vulnerable in any dispute with the tenant, however unrelated.

Some investors will be attracted to a high yield but if that yield comes with a large personal liability for the underlying mortgage, an ownership share of a property in a poor area, or one that has a lot of deferred maintenance (all situations that may leave the investor vulnerable to a capital call) the yield will not be as attractive.

You should explain that you recently learned you must do this consistently whenever a tenant is technically in default, otherwise you might be vulnerable to Fair Housing complaints.

In my humble opinion, multifamily & self storage remain stable investments, and don't tend to be correlated to the single family market, and its vulnerability to changes in interest rates, which is why investors flock to commercial real estate niches such as these.

Being a newbie makes me more vulnerable. 

They laughed their a**es off at the inspectors office when I mentioned the address.Love the specifics of the area you mention, the stories you tell and I can imagine the stories you haven't :) .I think you'll agree though, with a "recent" conversion unless there is documentation of being a legal (somehow) two family, workarounds are just that, and will leave him vulnerable to all kinds of selective enforcement.

You can be visited by the Atty General if you are cheating "vulnerable" sellers (foreclosures, handicapped, veterans, elderly and anyone else the Atty General deems vulnerable)      13.

However, my wife seems nervous a little bit to have a lawyer as a tenant, concerning their may abuse their professional advantage, victimizing the landlord and leading us to a possible vulnerable situation, as they may pick up on any tiny issue to make a big deal.