I would also add that $2500 start up costs does not include all the extra reoccurring fees, monthly and annually. 

@Jason DiClemente this has been the reoccurring issue for the last 2-3 months, I start the eviction process on the 5th day (VA Laws) go through the process, add late fees , they pay the rent to avoid eviction, and then push back on the late fees.  

So really, my only monthly reoccurring cost has been the HELOC. 

If you put those under the fold, then the capitalized value is missing one of the biggest reoccurring expenses of running property. 

I'll be sure to upgrade and support things as well.Do anybody have any re-occuring REI groups in NJ that they would like to mention?

In addition, he probably has another 150K that he has in equities that is part of his inheritance (his father passed away last year).He has no meaningful retirement accounts, and given that he shows little income and doesn't own anything, my guess is that he wouldn't qualify for any traditional loan.My thought would be that he could buy a turnkey property out of state in cash, and at least have some reoccurring cash flow.But the great wisdom out there can surely come up with a plan better than that, can't you?

I do not believe the offer would of been accepted, but I wanted to feel them out to know where they really stood on the property, with that being said my current interest is on another property but I just wanted this not to be a reoccurring issue with other offers being that this property is still on the market.

My wife did a good job with the carpet cleaner, but it seems this would be a reoccurring problem.

Also, in my experience when a potential tenant complains about their current landlord it is typically a re-occurring theme and usually ends up being more of a hassle for me in the long run.Just my 2 cents..

I have heard that it has lots of upsides, just doesn't produce reoccurring cash flow.You may want to look into house hacking as well.