However, a wall sitting on top of conc. is not typically allowed however, there are work arounds.

The typical 2-4 unit I represent buyers on we are able to increase rents 40-100% especially in gentrified areas.

The properties that I like the best are typically in the B/B- neighborhoods.

However, one tenant isn’t paying rent, and it looks like I might have to go through the eviction process.When evaluating a rental property, do you typically use the 1% rule?

And the cracks mostly follow the drywall seams from what I can see, which is typical....And as @Patricia Steiner said, it doesn't look like a pro installation....You could ask the Contr to use a flexible compound if this happens again, or maybe even now...https://www.dap.com/products-projects/product-categories/pat...Like everyone else said, I'd have it repaired - by a licensed Drywall Contr. - and then just check in on it.

What kind of returns are you typically seeing on these deals?

Most likely the new lender is going throught the foreclosure process and typically will end up taking the property back.The original posters chances of getting this property back now is slim to none as it will be sold at market value.  

There are tons of threads here on BiggerPockets where you have a new investor bashing a property manager, seller or turnkey guy and then when the experienced investors chime in it becomes very clear that the new investor wasn't telling the whole story and there typically wasn't any wrongdoing by the property manager, seller, turnkey guy or what have you.

FHA loans typically require the property to be a primary residence for at least one year, so he should confirm compliance with his lender.Once rented, he can deduct expenses like mortgage interest, property taxes, maintenance, and depreciation starting from the date it's available for rent.

First, self professed traders on their cell phone apps placing trades with their typically less than $1000 stand virtually next to zero chance of success.