I suspect that you will find that the complex was equipped with Federal Pacific breaker boxes and aluminum wiring...How much per unit are you considering paying for this "down to the studs" complex?

I've long loved the construction side of my job as an interior designer and I've spent most of my career creating spaces to either make people feel immediately at home (hotels and restaurants) or where they WANT to be home (multifamily & builder models).  

Mostly quietly but getting more active.I was born and raised in Seattle and have spent the last 15 years working overseas for a humanitarian organization.

Often, simply saying that income, credit and past housing history must be acceptable let's the duds know they won't be leasing there.The more you say in public about you qualifying requirements, the more you box yourself in in making accommodations for tenants you would like to rent to.

The time you spent making this thread, reading it, replying to it and all the consternation over this tenant is time you could have used to solve the problem which is you have an empty unity."

I spent weeks reading regulations and visiting the state agency I would be dealing with.

Building constructed in 1980Present loan value appx $77k on a 15 yr note with 3.375% interestP&I pmt is appx $602NOI 2014 was $11489NOI 2013 was $5142      (spent around $4k on updates/remodeling)Appx $27k by my calculations of capital improvements needed in the next 5-10 years to increase the value of the property, properly maintain it, and keep it functionally up to date in order to attract higher quality tenants (located in a b grade area) (I'd rather have more invested to have higher quality tenants - have my own reasons for this line of thinking - willing to sacrifice a bit of profit to have good people)- Redo Kitchens- replace doors and all base trim/casing (more for my taste and would help the place rent out even quicker)- 2 escape windows installed for basement bedrooms- Concrete work needed on patios and near front of the house -- need to be done in the next yearProperty based on comps in the immediate area and a tight supply of decent duplexes here is $175-210k or so.  

(My family and I have spent 4 of the last 5 4th of July weekends in Prescott.

In the time spent to find, process, and receive funds from a conventional lender for 1 property, you can fund 2 with hard money. 

That means you spent $4,000 in 2015 and $1,000 in 2016.