Don't focus on the rent money...the damages and aggravation will cost you far more in the long run if you don't take charge of YOUR property.

See if there are any possible water liens, weed abatement charges and other such things.

I think this post still holds water, but now you can buy for 25k and we know how GM and Ford are looking.

Though i expect to contract for $255,000 Details follow. 8 plex renovated in 2006 and 2007: new roof, all apartments new carpet, painted, new windows, new lighting fixtures, new kitchen cabinets and appliances.4 two bedroom and 4 one bedroom all with w/d hookupsCurrently 100% occupancy with 1 year leases.Sheduled gross income $3300/monthtaxes and insurance $2500estimated maintenance $1800all apartments on separate water and electriclong time handyman on premises gets rent reduction for service.

That will let you pay the mortgage and maybe buy time to either sell or later reduce the interest rate through a refinance. 2-3 years of working two jobs could be a lot better than 7 to 10 years of damaged credit.

PS they let other people have pets, the only reasoning they have for our place is that its new and they dont want the new stuff to get damaged.

I'm from just outside Atlanta, GA, where right now there is almost no water and a lot of forclosures.

That includes all the expenses: advertising, taxes, insurance, management, maintenance, vacancies, entity maintenance, legal fees, evictions, setout fees, damage done by the tenants (in excess of the deposit), capital expenses (not technically an operating expense), etc, etc, etc.

The water heater is new, and the furnace is older but my father (a contracor and also a landlord) inspected it and said it should last at least a few years.He is asking $31,900.

I sure wish there was a way to report all the damages left behind from tenants this way.