@Mad Dendukuri easy solution - tell the tenant you can't afford to do flooring AND put them up somewhere, so deal is off.Either they will be reasonable or show themselves to be greedy and someone you should get rid of.

Let them know you're the new owner, that you will be abiding by the lease terms they currently have, give them your info to be able to make payments, any website/payment portal platform.I would keep it short and sweet.

I've heard 10%-20% is the average net gain but I just want to be more clear about it. 

@Ademisola LeemanWelcome to the community and be ready for a huge amount of information at your finger tips.

I think I might have started this thread a couple of years back and am in VB as well, so interested to see if its getting any footing.Sounds like some have had success with it, so I guess I gotta get back on the hunt for them. 

Quote from @Devin James: Just as important: be a giver, not just a taker.

There is passive pockets, there is Aleksey C. on linkedin and others who talk  more about syndications as well. 

Thanks,DanThat will be a big mortgage. 

Electrical as well but needs updating.

Now, if for whatever reason this was a fair allocation, and the 5-yr property indeed lost 90% of its value while in our hands - then the impressive tax savings they boasted about would be valid as well.