MN also has some harsh repercussions for landlords if they should have returned a deposit, so I'd personally be nervous testing out in court if you can take the tenant's security deposit, even if you had a clear addendum.  

Or, if your building is in a pod of say 4-6 units, separate from the others, find out what it would cost to fix YOUR building and then feel out the other owners to see if they would be willing to split the cost.Don't sue yourself...Sorry to sound harsh, but we live in such a litigious society that it drives me crazy. 

Hey @Robert Walter, I grew up in Bay City and was a supervisor for Chemical Bank's REO Dept in Midland.

This may sound harsh, but just make sure you have an operating agreement among the two of you.

The risk to the seller of using lease-options (or any other executory contract) is now significant, and investors should therefore use any such device with extreme caution.Note: lease options are not illegal, just harsh in penalties. 

There's a lot to break with pools and you really need to pay for a monthly pool service for both cleaning and chemicals to keep the tenant from destroying your pool.  

., 4.54% TX, 6.33% Houston.He also said we are witnessing the largest petro-chemical expansion ever, which is helping to offset some of the oil/gas losses.He was particularly bullish on the Millennial population.

Lots of renters right now due to the expansion of the refineries and chemical plants.  

A few scholarships and a chemical engineering degree, ramen noodle soup, and PB&Js allowed me to buy the house I live in 1 year after graduation.

Sorry to sound so harsh, but purporting to be an altruistic for-profit Investor is fairly close to being an oxymoron in my dictionary.In reality, it's their LENDER who will decide how much they can be helped.If you're investing, why treat underwater properties differently to any other?