Shiv,Basement Water damage caused by surface water or seepage from outside is probably not covered under your Dwelling Fire Policy.   

Alternatively I'd recommend extending your search into the surrounding suburbs as multis can be somewhat easier to find just outside of the city.

I know several people who have tried evicting for issues outside of non-payment of rent and have been stuck.  

Has tenants in the property who he claims are "great" and "always pay on time"Note: I have not yet toured the property or asked for proof of on time payment from the current tenants My analysis on the deal is this:Target purchase price: $105K (current investor is asking 125K which is too high based on comps)Current monthly rent: $1,450Expenses: which includes mortgage, taxes, HOA, and 5% for repairs, 5% vacancy, 5% capex (HOA does cover outside)Monthly return: $324/month

@Ricardo Morales - There are many condos that do allow STR, but you have to search hard to find them, and they are (IMO) pricier because the desirability from outside investors. 

Hand write the addresses outside the envelopes to get people to open them. 

and put a keypad on the door. and make sure it ventilates directly outside. 

It fits today.That being said you likley don't need to do it all at once if it is outside your comfort zone.

Hi @Craig AndersonThere had to be a reason why he put your wife on the loan outside of she being apart of the household.

Having the holding company avoids having to show your personal ledgers (assuming the necessity ever arises).if you do transfer funds outside lines of ownership, you would need some sort of transactional reason.