I am assuming by your numbers above that you either did some improvements to increase value or bought 30% under value.

These areas have huge commitments to public employee unions, and have borrowed hundreds of millions and some billions, of dollars for improvements etc., they can no longer pay...

It's better to spend your time and energy finding a new tenant than fighting a jerk, although your ego might feel otherwise.

I have overseen over 1,200 units as a commission of a large PHA and I cut costs and overhead and had some significant maintenance/improvements made, hired an attorney on staff, acquired other properties for expansions and brought the PHA to a well performing rating, don't get me wrong as if I'm taking all the credit, there was a great staff and excutive director that I put in there that was amazing and they get the credit, but I stepped into that appointed position and had never owned 100 apartment units at one time!

There are ways to apply that "boot" to repairs and improvements to avoid taxation on the gain (the proceeds are kept in escrow and drawn to cover the repairs as needed) - identify a Qualified Intermediary that you wish to use and ask them.Originally posted by Jay Wright:...2.

I am currently logging them on excel, but I am not familiar with the commands and formulas to operate excel efficiently, or if it can even do what I need it to do.

The most efficient way to handle this IMO is to pay have your friend hold a note or if he wants and equity position treat it as if he is holding a mortgage at an agreed rate of interest and you may even want to include him in on a percent of the gain if the property is sold.

I am planning on renting it once I make a few improvements on it, so should I select "No"?

While some folks decry the industrial scale farming that's occurred in the US, its much more efficient.

will that improve my score?