The legal action is against people who have no intention of closing or no ability to close the purchase tying the property up with the seller believing the buyer will close when in reality the transaction will only close IF the “buyer” finds someone to pay more than he is paying.  

Also, was there a background check on the tenants possibly having criminal backgrounds and or background check to determine if the tenants had ever been evicted in the past?

Hello,I'm looking for guidance on how to determine fair rents for a commercial property with two tenants.

.- i question your underwriting and ability to make money on a $79k purchase with $12k rehab.  

I appreciate the ability to teach out to you with questions!

But there are markets and jurisdictions that have  "by right" in other words current zoning allows certain density as long as you meet the utls standards road standards and lot size standards and that is not hard to determine up front. 

The location being Las Cruces, New Mexico was yet another sucker punch that has negatively impacted my ability to do much with the property.

Getting your real estate license can be helpful, especially if you want direct access to listings, market data, and the ability to save on agent commissions.

I'd start by getting a soils engineer to look at the soils around the building to determine what's gone on to cause the heaving or settlement.

I think the ability for the lower cost places in the midwest to 'cash flow' has been way, way overstated.If you know a market well though, that's definitely an advantage.