Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing,You can also read, books on investing in real estate, listen to thepodcasts (hover the mouse over the “Education” tab on the top of the page, then click on “Podcast”), attend webinarsand stay active on the forums by Setting up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts.

Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing,You can also read, books on investing in real estate, listen to thepodcasts (hover the mouse over the “Education” tab on the top of the page, then click on “Podcast”), attend webinarsand stay active on the forums by Setting up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts.

I think even the original orange shag carpet was there, although it was matted, brown and laying quite flat by the time I bought it.  

I laughed when I got to the 735. if it comes to that,  send them a check or put it under the welcome mat of the building's front porch  and tell them to come get it. 

Property management on the residential side is very tough to make any substantial money with.I know friends who have hundreds of properties they manage with employees and they eek out 60k a year after costs.Hopefully you can build a better mouse trap but I have seen many on this forum over the years try to same thing.The costs are simply the costs.

@Mat O'Grady, generally in many states, you're right that tenants cannot withhold rent for non-emergency non-uninhabital problems. 

I have a similar situation in one of my buildings  it seems to be a constant game of cat and mouse.  

The owners wife told me that No Chemicals or Haz-Mat type of things were ever mfg'd there .

I agree with you that I am almost never on budget, mostly over, but I try to bring the mouse in a condition where all components have at least 10-20 years of life left (which means replacing a lot of course).One thing that you do and I think I will change is to not finish the basements.

It doesn't matter if you are young or old, totally new or need to build upon your experience.Yes, you have just announced a commitment to the thousands in this community about your seriousness regarding REI and have taken this bold step to affirm it.Your time on this site and with the BiggerPockets community will be well spent and can be financially rewarding if you so desire.You are here at the Forum, but, should raise your mouse to the top and explore the otherheadings displayed.Don't get overwhelmed by the massive amount of data archived on this site.Simply, bone up on the areas that you need to expand knowledge in such as, Forums,Marketplace, Learn, Network, Analyze, Resources.Feast on the Podcasts, #askbp Podcasts, blogs, webinars and the myriad of bookrecommendations.Also, you can review the quick links below to help solidify your grip on this site. http://www.biggerpockets.com/starthereSetting up Keyword AlertsHow to Use @Mentions on BiggerPockets25 Tips for Real Estate SuccessAfter becoming more knowledgeable and confident because of my above suggestions,take action to snag your first real estate investment deal if new or add to yourexisting holdings if you have prior experience.Don't get caught up in analysis paralysis.You must immerse yourself in the RE marketplace locally in your neighborhood or afar if the situation warrants it.Take calculated risks if needed and you shall be rewarded!"