There is no way they can require you to rip up more of your basement to accommodate them let alone you pay for it. 

owner has not rented it out this semester due to do some rehab, actually did most of the bathrooms and they are in good shape, carpet is awful, needs paint, kitchen cabinets and better lighting. lower level apt needs gutted due to toilet leaking from above. here are the numbers:purchase price 330krents last semester avg=333/month, did not rent over summer, "I let them just leave their stuff til the next semester", my friend was seeing RED after this statement...expensesrents (if occupied at 333)=3663/monthtaxes 2200garbage =100 (actual quote from WM)water and sewage 525electrical=passed through to tenantPM=started looking, but quotes at 8-10%insurance= 300 (est.)planning on ripping carpet out and going with vinyl hardwood throughout, new cabinets in kitchen and paint, fix lighting and general clean up. plan to get rents up to 500-550 month, lease term 1 year. interviewed PM and he said they take one month's rent for placing a tenant, is this typical?

It is us unlucky folk that are still 25 years or more from drawing that are getting ripped off. 

I like the foreclosed homes that are moldy, have drug needles in them, and the electrical ripped out through the sheetrock.

Think of it this way:Snag a house in the hottest market in the country --> pain to finance (HML or otherwise) ---> can't/barely afford payments ---> try to hurry the fix n' flip process ---> make rookie mistakes under pressure ---> waste time, money and resources.Either your mentor is ripping you off OR you did not understand his system by asking the right questions.

I proved that my rent was paid, that my landlord was trying to rip me off, and then he thought that he could break the lease by refusing rent.

This coverage is incase your home get "tagged" or possibly you have aluminum siding and the lower 6 ft get ripped off.

For me, it is a single family ranch style home with 2/3 beds and 1.5/2 baths that smells funny and needs the carpet ripped out.

God bless him and RIP grandpa!

How bad does a tiled bathroom need to be for you to go to war with the contractor and demand it be ripped out?