You say you paid $500 and took over the mortgage.

Definitely get your financing  plans in place ....get pre approved  for a  hyptothetical  scenario so you be  able to  finance your first deal . 

As long as you're getting paid you cannot dictate when she can or cannot enter, whether she lives there or not you're getting your money.

The properties are almost paid off!!

for 1050/month all bills paid. they claim this cash flows 3600/month (4200-600). the math on that is they say electric is 90 unit, trash and water is 50 each for all 4 so theres your 600 and say they can provide receipts on all this. it's located  a handful of miles, about 6-8, outside the nearest small town with a wal mart etc.one thing is it seems better apts, in town with 600-800 ft, go for more like 1k no bills paid. even adjusting for the all bills paid part, i feel like 1050 is aggressive on these. otoh near me some crappy tiny apt with mold and everything go for 750, and these are much nicer than that. i think 700-800 would be an absolute floor on what they could rent for.i guess i just have no idea for example, insurance?

Doing a pre-drywall inspection is of huge importance.

He would have up to 30 days or we would dispose his stuff.There are a lot, I mean, a lot of stuff in the property.He hasn't paid for garbage services so the accumulation of 4years of garbage is also at the house.

I almost have this house paid off already so it just made sense.

If the third partner is not contributing money and is only operating the deal, have them charge the deal a management fee so their paid for their work.

- 3 units are occupied by seller’s close family - All units are on month to month basis- All units are significantly under market rent- 1 unit pays on the 15th of the month- 1 unit has not yet paid for Match 1st even though my information has been provided to them twice- I have no applications or old leases1.