The note from the first seller is only $88,600 so you have more than enough equity remaining to place it in second position which leaves $61,400 in equity on the new property or about 4%.The first seller continues to receive payments and has sufficient collateral to cover the note. 

This is the percentage of costs (purchase and rehab) covered by the loan.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

This is after covering all expenses and setting aside a certain amount for reserves to cover future expenses like capex or vacancy. 

Instead of evicting them, i was thinking is there some way that I could rent it back to him for very cheap (mainly to cover just the taxes/ insurance) ie 2k a year rather than the going rate of 2k a month for similar properties.

My broker could not find any other carrier to cover a rental condo. 

Consider yourself fortunate that your property is still covered by your insurance carrier.

Partner Driven fully funded the transaction, covering the $17,000 purchase price.

Unless they cover this somehow in their contract, this is illegal.Hope this helps!

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.