Even if you disclose the situation to people occupying the space or building or using the property and require them to sign a release and acknowledgment of disclosure, by allowing others to be exposed could create a potential liability on your part as well as the original responsable party.

Interested to know if I’m missing anything; right now it sounds like a great opportunity to get my feet wet as an investor.The plan:-2-3 partners purchase relatively new single family or townhome (no rehab required) for ~$250k-Some of our potential properties are located in gated neighborhoods/communities, so I acknowledge that they’ll likely not increase in value too much-Pay full cost with cash payment-Rent property for cash flow-One partner located in local area and agreed to manage the property-One of the partners is set on paying all cash so financing isn’t really an optionMy background/thoughts:-Have cash to spare-Rental income would provide great return on investment-Not looking for another deal for another 2-3 years, so immediate return is not a priority-Purchasing a new-ish property will minimize risk of running into major repairs & would allow time to build up a maintenance fund (we can cover these costs now...but would likely use rental income to build a separate/shred pot of cash for this purpose)Looking forward to hearing from you all!

This does seem to be a possibility, as the property is currently off market and once my realtor acknowledged I wouldn't be interested in this property with carpet, hurried up to let me into the property.I overestimated the flooring costs for 6k carpet for now, intend to remove the back deck steps, and just make a balcony to reduce liability with those steps.

(I acknowledge if I'm renting the appraised value is just academic for now). 

Once the problem has been acknowledge and I decide to hire out a job, I call the tenant and provide them the contractor's phone number and I tell them to call the contractor and schedule the repair (or vise versa).  

I do acknowledge that there are families like the Gates where the kids just exist and inherit, but most family businesses, not corporate, have kids that are very involved in the work. 

Hi, First of all, I start by acknowledging that my research wasn’t enough and I might have rushed a little bit.

In that letter, you should also acknowledge that they owe you $XX for whatever that dollar amount represents; itemize the list and demand a refund (give a “by no later than” date which should be within a week of your letter).  

Here are a few questions I have:1) Why did the tenants NOT acknowledge my certified mail letter with detailed reasoning of deductions?

They’ve acknowledged the increase but have not   Paid monthly increases or back increases.