House was built in the 50s and neglected for years before I bought it.

I realize everyone's circumstances are different, but being new into flipping I was trying to get a feel for the norm.ThanksChris

Are there certain circumstances when you use one over the other or do you use both on all applicants?

It is your debt when you have to pay it, which is why leverage is good in moderation but a potential killer under the wrong circumstances.

(At least with 1 unit at a time, rather than the unusual "cascade" in this circumstance?)

That kind of business steals old people's social security checks and attracts bad guys, but hey, look on the bright side--at least those people won't be coming up to the Horseshoe anymore.Under limited circumstances, I think a casino is a boon for an area focused chiefly on entertainment (i.e., the Horseshoe in downtown Cleveland).

Yup, I know, this is a GREAT group with a WEALTH of information, but for whatever reason have never been active as I tend to internalize and make decisions on my own.However, of late, my circumstances have changed, and I learn that no one person is an island.

I let this go as there were some transition issues with previous ownership.In the interim I met with 3/4 and asked what needed to be fixed and any concerns they had.I then sent all 4 a letter stating I was turning it over to the PM for not only management but I stressed in the letter I wanted the PM to begin fixing issues and replacing things neglected by the previous management.PM delivers welcome packet and asks for SSN, Drivers License and full contact info to prepare new 12 month leases at the same monthly rent.The tenants collectively send a letter to the PM asking why they need to provide SSN and ask for a copy of the PM privacy policy.

It is possible to have long-term rented apartments that are in no circumstances legal.

I found myself relaxing this weekend and catching up on the Pod Casts, and realized I was neglecting this thread.