We have multiple properties rented to students living in different rooms.

Ultimately we decided to completely replace and revamp both the entire carwash tunnel equipment and also completely remodel the customer lobby are. reversed the staircase to allow for a separate entrance to access the upstairs office space to rent out separate from the washWhat was the outcome?

Rent does come in on time every month tho. 

Ask the manager to explain their process for dealing with maintenance, late rent, evictions, turnover, etc.

Why are rent prices so high? 

I have rented it out on furnish finder and Airbnb.

Then, market on “rent by room” websites.

The rate difference between FHA and Conventional is actually over 1% right now for Multi family propertiesCurrently the rate offered is 6.75% and 193/m in PMI (private mortgage insurance)That makes the payment with taxes and insurance roughly:$3453/monthTaxes were $3820, and insurance is $1800/yrCurrently this building can rent each 2 bed unit for up to $1800/m with tenants paying all utilities.All in cost to close is: $71,414.64If you rent both units for $1800/m you can expect gross cash flow of $147/mThis is the reality of buying a turn key duplex in the area using todays rates and prices.I want to stress, that this is actually considered a great property and deal in todays market for the areaYes, prices are high, and so area rates...My goal is to show what is actually going on.

It can rent for up to $6500 to $7000 per month for all 4 units when fixed up.

It turns out the boyfriend has been charge with abusive behavior and has been issued a restraining order by the courts that essentially evicted from the home.Due to the fact they both did not strong credit, I had initially taken 2 months rent from them as security deposit, with the understanding that 1 month would be returned at end of 1st year lease if they decided to renew.