He continues to deny he lives there, lied to the police when they came with a code violation and inspection, and most recently overloaded the electrical and blew/snapped the line! 

What is your price point and are you looking for turn-key properties or something along the lines of a "fixer upper"?

Those couple hours of research will save you hundreds of hours of time down the line, so it's well worth the effort.

@Cole Starin What type of take out financing did you line up to payoff the private money and get into long term perm debt? 

Now, three years later, my tenant reported cracks in every room—paint cracking and full-line cracks in the bathroom, living room, and bedroom (walls, ceiling).A drywall contractor looked at it and said it’s normal wear and tear, but I’m concerned since it’s in every room.

It's putting out lots of fires, managing finances like a hawk, keeping projects on time, in line and on budget, marketing the property & getting it through closing, and *then* doing it all over again - and that's if you're not doing any of the work yourself. 

But, just from your own commentary: $15k to own 32 new construction units is VERY out of line with market.  

That said, I'm grateful for the alternatives you present--you're keeping the bottom line in mind, so I appreciate your help in exploring options that achieve the bottom line for the investors. 

We built a single family home version of a 2 bed 1 bath with surface parking at cost with no profit all in with land for 175k in newark ohio, a suburb of columbus ohio. when we push that to 3 units and closer to the city for our build to rent model the numbers go way better. a 30k slab for a single family home is 30k, a 30k slab for a triplex is 10k a door. we designed a 2 bed 1 bath design at 668 sq ft and it's very good layout even I would live there, but I would never build anything that small again. there's no economies of scale. you need density and shared lines, resources, shared roof shared slab, shared windows, etc the cost goes way down.

She has since moved out, and I have new tenants lined up.