It's not in too bad shape, but was a smoker's house and hasn't had any cleaning done in years.Based on a quick walk-through I'm looking at internal painting, minimal external painting, carpet replaced (or removed to get to the hardwood floors where possible), a bunch of minor repairs to things like gutters/eaves/etc.In a perfect world, this relationship would continue to care for the property as issues occur in the future.

In my opinion, it's not bad if you don't mind the added headache.Few other options are a Trust, LLP, LLC owned by your LLC and your Partner's LLC.I strongly recommend that you consult with a lawyer.

The rate is 3.74% so it's hard to beat that if he refinances now, with bad credit. 

sorry wording bad is this the house i helped you find  lol owner finance it to me at 7 percent lol

Hire an exterminator.And get rid of the bad tenants now.As far as animals, I require renters insurance, I don’t know the law in FL, but in WI if a tenants dong bites someone, and they don’t have renters insurance, the victim can come after the property owner

Bad press + Bad charma = No for MeEven though it is technically by the book so to speak, politics and public perception could turn a great deal in to a great nightmare.

Probably not but that's not a bad thing necessarily.

As a realtor I do not really like to identify neighborhoods as "good" and "bad" on public platforms but you're more than welcome to give me a call for an unfiltered description of each area. 

But I've bought about half of mine in the past 6 months from wholesalers with mostly good, one bad, experiences.

Not that bad honestly.