We also want to minimize the likelihood bad tenants.Any advice is much appreciated.

If there was minimal or no impact, it should ease tensions.

I've always let those type of situations be dealt among themselves, and I'd only advise (minimally) as a 3rd party but not as a landlord.

They pay an atty to regularly review and update the leases for the jurisdiction.You can buy them for a minimal amount, well worth the cost.

You want to minimize any financial surprises by including all costs.All the best on this deal!

I get the idea that the 150k payback delay is not going to make you eat cat food :-)Hopefully he does make it right when he can and does his best to repair the breach that this situation has created.

I wanted to get concrete as to what numbers I'm going to consider in my newest market, where small buy-and-hold MF are currently selling at around the 1% rule (a $200,000 duplex gets around $2000 in monthly rental income - these numbers have remained consistent over the past 18 months ever since I first studied this market).1% doesn't excite me much and I decided I'll buy starting at around 1.5% (they currently have some small duplexes approaching this number but they're small and aged) - I want a larger MF or at the very least a newer build duplex with more SQ.FT. so I'm getting good rent while minimizing expenses. 

I would also begin to show their unit in December / January for them to move in in February, that way you minimize your vacancy.For my campus rentals, Ill do showings 8 months in advance to lock up a 0% vacancy. 

The thing I love about BRRRRs is that even when things don't go as planned we are still about all in for close to what we would have put down for 20% down commercial/conventional loan, but in this case we have a newly rehabbed house that should hopefully have minimal CapEx over the next few years.

Love to hear what others are doing with pricing in this market to help minimize vacancies and maximize ADR.