I'm not their social worker as sorry as I may be that they can't seem to pay their bills.At any rate, pretending to be the property manager may be a more "gentle" way for you if you just can't say "this is the criteria I must legally follow for every person that contacts me regarding this rental property".Gail

But despite those numbers, it sounds like you're just trying to force this one to work by massaging it a bit - which is usually an indication that you should move on.

Early on I started out with a 20 unit multiple property C-class seller financed deal and it almost bankrupt me as I didn't do my analysis correctly.It's great that the seller is willing to hold paper but be sure you aren't massaging the numbers to create a better deal than what's really there and be especially certain you have sufficient cash reserves to tackle a project of that size even if it's 100% financed.  

I have an STR and I'm wanting to gently reach out to newer markets. 

Both because of the fact they clearly have no interest in maintaining the exterior of the property, as required of the lease, and because they had no interest in resolving the issue of the additional people living in the house, we decided to gently suggest that they might be better suited to an apartment and that we were willing to discuss some form of negotiation to move them on somewhere else.

NEVER AGAIN, but I have learned a lot & massaging them is akin to poking a sleeping dragon.

This works if the tenant is a good paying tenant & you have to have a gentle touch.  

Currently reading:Verbal Judo - The Gentle Art of Persuasion...and The Camel Club by David Baldacci for pleasure.

I'm looking to massage my portfolio of 10 places.

If one of them dies, you can literally have a used appliance guy get you a gently used machine for less than a repair.