If it is ruined, the depreciated value of the carpet you can collect from the tenant may only be a fraction of the cost of replacing it.

Maybe I am biased since I see and diagnose cancer in young folks all the time... but, money is easily made and easily lost (by newbies too), but time is not manufactured.

The HOA doubling really ruins your numbers.

Dont wait to kick out bad tenants, keeping them around because they pay the rent will just give them more time to ruin a unit.

If you can't provide a helpful answer, please keep your judgment to yourself unless you want to be very immature and ruin this thread.Thank you !

Good Morning David-I agree with the poster above, I would actually see it as unfair to not include your family member in the profit sharing, as he has just as much if not more to lose in the case of having the deal go south and having his credit ruined.

For instance, my company helps clients after they purchase an investment and gives them someone that they can fall back on and the last thing we want is your property to go vacant or worry about repairs once you purchase the property which is why each property goes through extensive research.Keep in mind whether the property is old or new, if you have a bad tenant or a bad property manager in your investment the age of your property wouldn't matter because one bad tenant can easily ruin your ROI.  

Anthony, yes, read Dave Ramseys books, if you can't afford to buy them go to the free learning institution with free books for use in your town (called a library).You have been on these boards for years (I think you went by Tony on another RE board), always the same.The first thing you have to realize is the one common denominator in all your problems is you (this is true for all of us), if you keep having financial problems, YOU have a financial problem,,,its not caused by bad job interviews, people that aren't serious about buying something on craigslist etc.If you can't do anything else go spend 30 hours or so a week picking up scrap metal and recycling it,,you can do that anytime and it won't interfere with your schedule at your regular job.Make a plan financially and LIVE BY IT,,you don't need internet service, go sit outside starbucks and use that internet service,,between the three of you does anyone have a cell phone,,then use that as your primary phone,, I have hit bad times in my life, most of us have,,,but we decide that's not how we want to live,,,You have a financial problem, that is NOT what I call a "serious serious' problem,,,if you have a child or loved one about to find out if they have cancer, THAT is what I call a "serious serious' problem,,,,you have a situation you have allowed yourself to be in,,,make a plan and go work it out,,The way to make more money is to be better at everything you do,,then you will get noticed and will get promoted or another job offer

If the Tenant ruined/ripped out previous sheet vinyl, someone failed again, either with a poor quality installation (by you-know-who) or failing to inspect during occupancy and bounce a poor Tenant out.It sounds like someone (Tenant?

Because in Port Richey you could have tenants ruin your property.