This question is About cash REO purchases from a private bank.OK the QuestionI see a number of banks these days listing REO properties with owner occupant bidding periods and selling, Most of these properties are not even habitable and say  that the buyer must agree make the property their primary residence  as soon as possible.

Of course a close proximity is vital for renting to college students.

We have combined 5 separate tax lots into one, large 100x150 lot and managed to qualify for the vital and expired NYC 421-A tax abatement.

Amy...Sounds like your tenants are "terrible" due to their habit of not paying rent.This is an excellent (and legal) reason for getting them out via the eviction route.If you are unfamiliar with the steps on this process in your state it would be best to either read up on this or consider hiring an attorney familiar with the process. 

The landlord will continue to keep the home in good working order and abide by the terms in the lease throughout the length of your tenancy.The tenant (You) is responsible for keeping the home in good condition by practicing good housekeeping habits, including to prevent leaks, mold growth, rodents, and pests, treating the property with care to avoid preventable damage or maintenance needs, reporting maintenance issues in a timely manner, paying rent when it is due, and abiding by the terms of the lease throughout the length of your tenancy.MaintenancePlease call or email us promptly with any maintenance requests.

Your Realtor probably isn't in the habit of sending clients to people who suck... that wouldn't be a good business model.

I wouldn't advise someone to make a habit of investing in this manner, but from time to time I personally am ok with trading cash flow for appreciation.  

No one can give you suggestions to do more for your (money) unless you tell your money habits.

Think about your work habits and what you need to get you out of bed in the morning. 

My quick google search on tenant rights and how to handle the situation told me I could withhold rent for the period in which I did not have a working shower as the landlord has to make the property habitable and no shower = not habitable.