Hey all,

I have a property under contract that I’m looking to assign. The comps are 125-135 for this type of property. 2/1 1.1sqft built In 1940 but it has 1.21 acre which is why I took this deal over the price I Set...

I'm planning to do a 1031 because like the idea of deferring taxes, but given that I have limited REI experience I'm concerned about forcing a bad deal to avoid taxes.

@Sarah London sounds like it's a bad deal if you're looking for cash flow.

.$3000/mo rent-752 fixed cost-240/mo property management -120/mo 4% vacancy factor-240/mo CapEx costsLeaves $1648/mo $19,776 annually/ $275,000= 7.1% cap rate which isn’t bad as I didn’t account for the efficiency apt at all.

Its a very bad idea to start relationship with new tenants on a sour note, and letting them move into the place that is not clean is just that. 

@Alexander Reed, having your lending lined up in advance is never a bad thing.

If I purchase the property can I evict or do I inherit the Lease option of the bad tenant?

My bad experience could be because of the market I was in, the timing, and maybe 1000 names was not enough to gauge it's effectiveness.The thing that really alarmed me however, was how outdated the list they had in their database. 

Wouldn't you be starting with an already bad deal?

I am very unhappy with that PM company (slow/unorganized/extremely bad communication) so I am looking to move to another PM company.