You add up overdue rent, repairs, garbage removal and cleaning and any other expences you incur.

I figured it would be easier for each tenant to just transfer money to me individually instead of one person collecting it from the other tenants, but now i see the benefit of doing that instead.Once again, thanks for the input!

I run about a ~45% or lower expense ratio, once you have a few properties it's easier because you'll have real world figures to apply.

@Aron - yes they took all their stuff away but didn't clean the apartment as specified in Move Out requirement. 

Lots of options but easier said than done.

The key is to build a rapport with the owner.They need to like you and they need to trust you and you need to do everything very clean so as to do right by them and make sure that they end up getting what you promised you would bring to them.

Rents are lower than a 2 or 3 bedroom, so easier to handle.

Along with that working hourly gives us both a much easier way out.

The property inside out is in clean and neat condition with nothing needs for repair.

You can contact your county Delinquent Tax office to find this out.If you want to approach owner you should do a title search and make sure there aren't other liens or mortgages against the property.If the property has a clean title minus the back taxes then you could offer the owner a few hundred for her time to sign the property over to you.