Samuel... congratulations...Remember a profit no matter now small is still a VICTORY... relish the moment.

I would ask them how much seed capital they had, then once they told me, I would ask them to cut me a check for half that amount and call it a victory, because they would lose it all.While I won't ask you for a check in this case, I will tell you the best way to cover your ***..ets is to pass on this deal.  

Besides, they have more character than newer homes.Due diligence showed that the tenants all paid on time every month and since we closed on 10/31 I can confirm that all have paid by 11/1 (minor victory and damn it felt good to see that first bit of cash flow).It's going to need a new front porch (spring) and some repair and painting to the soffits which I'd like to get completed this month.  

MKE Cty as anyone who lives here knows, has a judiciary biased far to the left, Waukesha Cty is far to the right in general, so I guess that says to me that you better follow the laws to the letter and expect little to no sympathy from judges and Petit had more than a few "horror stories" that day of some of them who despite the fairly significant changes from 2011, (which fixed a bunch of small, but still important issues, I think ALL to the landlord's side as well as a victory for common sense, loss for the small % of tenants who hurt all, sleazy scheming tenants who screw landlords badly) will bend over backwards to find any reason to screw the landlord by siding with the tenants who have already been screwing the landlord for months, thus the court case!

Victory!

From my experience, related not only to real estate but also another retail business I had, there are no inexpensive victories in court.

@Jerryll NoordenCongrats on your victory check!

Victor, I agree with Shawn.  

But yes, starting the real estate journey with $280k in student loan debt (combined $600k with my girlfriend who is also a chiro) is a bit of a damper... but it will make the victory lap once I reach my goal of $100K/yr by 35 so much sweeter.Best of luck for you too my dude! 

In 1990, he commented “I think we are forced to conclude that even the partial victory over inflation is not secure.”Volcker wrote that “Bill Martin [William McChesney Martin, Fed Chairman 1951-70]… is famous for his remark that the job of the central bank is to take away the punch bowl just when the party gets going.”