Not a penny out of pocket and had all the rehab money in my hand.The only way to do those are with VERY GOOD DEALS or the property owners are in a bad spot and they NEED to get out of their house immediately.

If you sell, you will have a large chunk of cash to work with. if you can find a house in bad enough shape to do the same thing plus another rental property, that would be awesome, just make sure the numbers all work.

@Peter CeoYes you should be concerned, but without knowing the whole story I can't say much about what level of patience you should employ.There's a chance your PM is fine and just got a bad tenant - it happens to the best of us. 

I’m anxious to get my first property done with, but I don’t want to take a bad deal either.

It's a really bad habit to get in to with the debt.

I rarely have to get rid of a tenant and it's not worth switching all of them over to M2M just for the rare bad apple.

Now, if the seller then wants the buyer to keep the EM anyway, that's a business choice, not a legal requirement.Your example and the posters are not the same.  

It is a bad business decision and runs the risk of ruining relationships at the same time.It's one thing to help family short-term but obligating yourself long-term with significant debt is bad.

It's bad enough that grandma is getting out of it after all these years so you need to be prepared to kick these tenants out immediately, clean the place up, and then find new tenants.

It hows 1.26 DSCR which is not bad at all.