Some might argue that unemployment levels are at historic lows, they're right.

You can argue your cost basis is higher and your right to an ROI however since NJ seems to be more tenant friendly in the court system I wouldn't go above that %.  

I suggest you listen to Ken McElroys BP guest podcast episode and maybe pick up ABCs of Real Estate investing by him.

If you use the LLC, then the LLC name is the owner "ABC Properties" you will sign the lease as the manager.   

(If you want to argue to sand after stripping then read my next point)- No need to waste time stripping the old finish off.

That's hard to argue with.  

@Jared Baker there is lots of good input on this thread, but I would argue the critical part is time: 1.

In fact, I'd argue you are risking more since you now have very high mortgage payments to cover compared to putting more down.

I would argue though that Glenolden is very different than Collingdale.

California code 602 (o) appears to define trespassing as not simply entering without permission (which you could argue they didn't, because the former owner gave his permission), but remaining on the property after being asked to leave.