We knew it was a fixer upper that needed major work but the inspectors found more termite damage than anticipated and even evidence of a previous fire.

I don't think there is too many markets that can give you these returns (Seattle, SF/San Jose, Southern California, DFW, LV), without risking a lot of capital.BTW, no replies on cost to build 4plex.Terry Am I misreading this, financing doesn't effect your cost basis which is used to determine the gain (100k).

They last longer, look better plus when a tenant damages them I charge the full price replacement cost from their deposit.

High vacancy and damage from renters can quickly turn those sorts of properties into money losing nightmares. 

This $$$ you may or may not do so it will negatively effect your underwriting and business plan if you unnecessarily budget.   

The new tax law does not come into effect till 2018.

Hopefully they're being made on time because late payments will damage her credit, too. 

Yes, @Tasha Pams, you must include  30 day cancellation clause in the lease to take effect if redemption occurs.

Typically when one tenant in a joint tenancy situation moves out, the deposit stays with the property and continues to be held by the landlord in trust in case there are any damages or money owed when the property is ultimately returned. 

This just happened to a fellow investor who's tenant abandoned and damaged the unit--he used a lease he found on line and was unable to go after the tenant for damages.