Once again, this is all a lot of assumptions so it's entirely possible I'm 100% wrong and should be taken with a grain of salt. 

I broker 4plexes in Salt Lake City and Houston and am seeing about the same cap in both markets.  

If you are going to evict them, I would get in contact with an attorney too, because I believe it may be a difficult battle to win in court.Full disclosure - I have never had this problem, so use my suggestion with a grain of salt, but I would try this approach if it were me.

Jake I've seen the same thing up in Salt Lake County. 1% is about the best I've seen.

I study the hell out of this business and study the approach and habits of the people who are successful at it, then try to model what they do.And my 2 cents (I'm a newbie, so take it w/a grain of salt) - you'll be fine doing a flip if you know something about rentals, b/c you already know the ins and outs of a second exit strategy!

Wow, I didn't really bother getting my head around everything, but this really seems like such a big bother for little to negative returns, take what I say with a large grain of salt; just really seems like a headache waiting to happen.Andrew

Kevin,Beyond finding the property, the agent should be able to help you in locating financing (refer you to a mortgage broker or mortgage banker), refer you to inspectors and be there for the inspection (some agents won't show for the inspection, but any that are worth their salt will show), as well as go over the title report and point out anything that an he/she feels an attorney should look at, be there for the closing and go over the final HUD-1 closing statement, looking for any charges that are out of the ordinary.And before any of this, they should pull "comps" on the subject property so you'll know what a good offer is for the property before starting the process and paying for an appraisal.Agents do a lot more than just show pretty houses.

I am not a pro - you can take my opinion as grain of salt.

So please take anything I say with a grain of salt. :)  From what i see in your description, the cash flow is slightly on the low side but probably not a big deal. 

Most brokers have companies they recommend, but some get referral fees so take it with a grain of salt.