This area is close to down town Tucson, the University of Arizona, and Pima Community College.

I don't have a wife, kids and I'm going to college and working full time.

I have tons of respect and admiration for you taking massive action straight out of college and diving into the real estate game!

On P&L, I want to see previous year if possible, then compare to current year, and focus on YTD actual expenses compared to YTD Budget - I then look at variances to see where the “leaks” are.

Okay i have 2 deals I am looking at for my second investment property both deals are 30 year loan, the mortgage price includes insurance and taxes.. 1)  first deal is 2 houses owned by one person that can be bought in a bundle, both priced at $30,000, they were $34000 and price went down, but the mortgage is calculated on the $34000, its in low income community near 2 colleges in KC, they have tenants in them lease ends in 6 months and have a property manager in place.

The benefits I see from the FHA loan are the ability to refinance after 1 year to help acquire more properties, and not having to deal with the previous owner on an ongoing basis.

Long story short, I have been looking at buying mobile homes in my area, because I live in a college town and rents are pretty good for mobile homes here, and its something I have the money to get into.

Does the previous owner legally owe it to you....yes.

Previous homeowners converted detached garage into 1 bedroom apartment/building that is currently being rented @$400/mo.

If it is a previous home owner I personally would run them off.