They have numerous evictions, a theft record, the good tenant says they steal her stuff and their kids pull pieces of the house off (siding corners), and best for last, when they failed to pay the electric and it got turned off, they switched the meters, which of course is dangerous and put the good tenant in a mess with the electric co that was sending her the bills!!!

Ultimately this will be at your discretion.Secondly, the PM person/company obviously failed to do their job and what they were being paid to do.

They failed to qualify based on income.

If you fail to take exclusive possession of property within three years of the tax deed, or at least file an ejectment lawsuit against the taxpayer within that time, you lose all of your rights. 

After being burned by tenants that get behind and never end up paying and lead to eviction I now state in my lease that we start the eviction process the day after the rent is due, but I make sure that is clear form the beginning and if they fail to pay then we charge a late fee and start the process of eviction based on my states requirements.The reality of the matter is that if they don't take the rent out of their paycheck then they most likely wont pay the rent, if they do then they are borrowing money which will put even more financial burden on them and make it less likely to pay on time the next month, or they are waiting until their next check to cover the rent and then will have a hard time catching up in order to pay on time snowballing into perpetual late payments.If you really think about it allowing a tenant to get behind on the rent ends up hurting the tenant, you are not helping in any way.

Much like failing to rent an apartment that contains lead to families with children holds you liable for discrimination.

If you can evict on the basis of falsified information, you may be able to get them out sooner that waiting for them to fail to abide by the terms of the lease agreement.

I've tried and failed a couple of times but was blessed to have a former boss who allowed me to learn construction and how to operate a successful business on his dime for a few years.I am in love with  the idea of being able to take a rough project and make it in to a successful property.

A full time job plus full time school plus getting started in REI may result in one of those three failing, so choose your path wisely.

@Christine H.To me, it would be a dealbreaker.Buying a multifamily on the basis of price appreciation is speculation.House price could keep rising and you end up making money (recouping some of your loss in the meantime) or there could a downturn and you'll lose more money when you decide to sell in.If you go ahead with the purchase of that property, you would have to feed that property with cash _every_ single month.Any expenses that you failed to initially account for will have to come out of your pocket.Increasing the rent might be difficult especially if you have tenants who have been living in the property who many years, because of the rent control.