Property must have something of extra value from renters perspective.

These are the people that, I feel, need to know the truth--good, bad, or ugly--as they can help you deal with it, fix it, and avoid letting it get any worse.A good CPA doesn't just do taxes.

I am exploring some strategies that would lead to extra longterm tenants.

So I have an extra $40 a month in savings combined for taxes and insurance.When I posted this example I stated $400, but more accurate cash flow number is $480 plus the little extra saving on insurance and taxes I will be breaking almost even on the 50% rule.

The furnace is a huge investment and worth the extra maintenance costs.

Would that extra 5% cover the 10k in closing costs?

Wow, I know nothing of Virginia law so you will need to contact a local attorney for specific advice.First I would send the certified letter to their last known address.Second I would also have a Notice to Quit, or the local variation of it served on them.Third, never lock a tenant out of the apartment unless you have a lawyer tell you to do so in writing, and you have a copy of his malpractice insurance.The truth is you need to see an attorney who does evictions.

I'm not talking about destroying a whole bathroom that was meant to stay but more like not knowing exactly where to stop, thus you have to do a bunch of extra work to rebuild what shouldn't have been taken out in the first place!

Save that $$$ and read the whole "truth about wholesaling forum" and invest in a yellow letter campaign and fail forward.Good Luck-Wayne

Just use extra diligence when screening potential tenants and maybe do additional property checks during their lease term.I've got a few rentals that were semi custom specs I couldn't sell when the world fell apart and so far they've remained in excellent condition.