Hope this helps.

I hope that helps.

Too much to lose besides money 

Let's assume that the neighborhood is a C class and the median income of the city is greater than 3X of the market rent.Here are some of the considerations I've come up with so far:- Units are in need of renovation and capex is too high or not available- Unit quality is not the same as market - Seller is worried about losing tenants due to increase- Vacancy rates are high or filling units have been difficult- Rent increase would take multiple increases over multiple lease periods to get to market rate if seller is trying to retain the same tenant- Seller inherited property and just want to liquidate- Seller needs to liquidate quickly (financial burden, sickness, quick exit from land-lording)It seems like I might be missing a warning sign about a deal if they are selling with current rents that are under market; but again, this seems to be most of the properties I've underwritten.And in the same vein, what should I be worried about when purchasing a deal with under market rent with the intention of raising them after purchase. 

Mailing/emailing a notice to "start the clock" doesn't cost much and should be done to NOT lose time if tenant doesn't pay.

hope everyone has a successful 2025.  

Sad truth of our current legal system, but if you go through the eviction process and he loses all this stuff, you are in the clear. 

Stay in and be part of this 721 or lose my investment most likely.

I don't expect to know everything by then, but I hope to develop a basic strategy that prevents me from making the most common and costly mistakes that a newbie can make.

Failing might mean losing your house.