For a person who doesn't know all this stuff, I follow the golden rule of "hire your weaknesses". 

Often people think it is weakness (like that you were wrong).

@Irina Seals This looks like a great deal, specially how it was sourced leveraging the weak points (flipper/permits).

Class C renter -- maybe depending on strength or lack of strength of other applicants at the time (due to public money vs earned income).if so 1st, last, and security + days of month left in this month (not a years money in a pile and then she has to start paying--bad training--that end of year payment might not be there).If she messes it up, 5 day notice, late fees,etc...up to filing eviction (and a turn) if needed.My guess is irresponsible focus on monthly bills, but if the $$$ is there 12 late fees add up to some extra cash flow from that unit.But definitely not the top of line renter--but sometimes you have to settle vs. losing 4 months of rent to a vacant unit waiting.But it depends on how you want to run your business--there are only 12 months (52 weeks a year to extract cash from that unit).And it depends on [IF] you can afford to take a risk with that units cash flow--or if you MUST have a stronger renter.But if stronger candidates are available, why take the risk.The year in advance is probably a convenience for her to not have to focus on bills vs. a gift for you...meaning she probably knows it's her weak spot--and that will probably bite you if you rent to her.Just my 2 cents.

But if you go on in this life, you're going to run into a lot of people who have trouble telling the difference between kindness and weakness.

For the past 6 weeks, my wife and I have been actively searching for a buy-and-hold deal. We found an up-and-coming neighborhood that my wife absolutely fell in love with and we decided to focus on it. We've driven th...

Like how to analyze the optimal max price offer, knowing how to best choose the purchasing criteria used to buy the property, knowing how to accurately calculate returns and costs, knowing different creative investing tools to best structure a deal where there wouldn't have been one before, knowing if your client is using the most effective strategy for their goals matching their strengths and weaknesses.

This coverage is weak and you should work hard to find an actual insurance company to offer flood insurance on one of their policies. 

Right now, I'm selling an SFR built circa 1900 that is obviously going to be problem after problem for the next twenty years as the weak structure and cheap materials used to construct it continue to degrade, for a duplex built circa 1943 that's got at least eighty years of comfortable running left in it.

That being said I don’t do LTR’s here because of the weak cashflow.