You should delelop a relationship anyway as one hand washes the other.

He said it was he, his girlfriend, his sister, and his cousin I think. 4 adults.I don't have to tell you all the reasons why I dislike this idea.

First property sold was titled HW JT, bought upleg in HW JT, want to convert to LLC in name of one party (for simplicity), will this wash with IRS since all still funnels to joint HW tax return.

They do not have laundry in the units but there is a laundry room in the next door building. 

They had four small dogs and they ruined the carpet (hence the 100% replacement), but the rest of the house is concrete and tile....which shouldn't really absorb odor.Do you guys wash the walls or ceilings?

.): $1,500Paint (most rooms need paint): $1,000Roof Shingles: (may or may not need to do; roof missing a few shingles near gutter): $300Dryer Duct (missing a piece that connects from laundry room to outside, quick fix): $100Hot Water Heaters (electric) x 2: $2,000 (which is probably way high, but trying to be conservative).TOTAL ESTIMATED REHAB BUDGET (which is probably sky-high): $9,400ESTIMATED CLOSING COSTS: $5,000 all-inPROJECTED CASH-ON-CASH RETURNS: 14.91%=====================SECTION 8 PROGRAMI really need to educate myself on the Section 8 program. 

I have some tenants who ask for laundry lists of minor things, frequently.

But if your rate is 3.5 or so, bumping up to 5 or 5.5 is what you'd be looking at in the conventional loan invest grade mortgages, so it is a bit of a wash.  

We white-wash these areas and the people from there don't simply move away, they are forced out.

I just want to update this post ...It took me two months to get the tenants out of the house, and only $4000 to change a few light fittings, make the pantry into a laundry, and paint interior, and lay new carpets.