You should have/could have screened them when you initially bought the property, but there's no point doing it after you've had them as tenants for a full year.

@Corazon B. when we initially purchased the home it was under our name, but we have now gone through the process of changing it to be under the LLC.

I initially resided on the property as a tenant myself.Prior to the current tenant moving in, all tenants were aware that I was getting married and would eventually move out of the property on Nov 18th, 2024, with the expectation of moving out of state by the end of December.It was understood that I would continue to utilize the garage and one room for storage as I transitioned to living out of state.All tenants were also aware that I would continue to access the property during this transition period.The tenant in question moved in Nov 1st, 2024.

In this market i would only go that route if you have the resources to cover their initial investment so there would be no loss of capital if things go bad.One of the syndications that i am an LP buys MF, rehabs the existing units, converts tbe garages into max number of studios, brings all units to top of market rent, and exits with max NOI.  

Just for an extreme scenario if the property/properties bring in 0 rent, but have no other expenses ( know this is impossible considering taxes etc, but it's just a hypothetical thought experiment of sorts) that's fine as my salary will cover the initial 200k loan repayments.

I feel like I might even come out ahead on the appraisal after the build is complete and walk away with my initial investment ?  

as long as you understand that this is just initiation for joining a club with various and sundry real estate information .. nothing wrong with it for the cost of 3k ..

Real estate investments don't require a huge initial financial outlay, and you may benefit from ongoing cash flow or appreciate your asset's value over time.

For CY25 I realistically think we'll be somewhat in the black with about ~3-6% ROI/COC now that much of the initial rehab is settling down and we have our systems in place.  

Any contact I've had with them has been at my initiation, even though I told the agent I would be ready to buy at the first of the year.