For instance, assuming you had collected a security deposit on this cash for keys situation, what are the legal ramifications?  

For instance, if the choice is to do hard money to buy a fix-and-flip or to do a subject to, you have to consider the lower interest rate for the property and no points vs. not being able to get rehab money in the loan.

As a result, $883 million of Alt-A loans previously held for sale (including $808 million of first mortgage loans and $75 million of second mortgage loans) were transferred in March [2007] to M&T's held-for-investment residential mortgage loan portfolio.In addition, M&T is contractually obligated to repurchase previously sold Alt-A loans that do not ultimately meet investor sale criteria, including instances when mortgagors fail to make timely payments during the first 90 days subsequent to the sale date.

I am sure it would be less than 70% in those instances.

Now, this doesn't entirely make sense logically to me, but at least it's an answer.To complicate this though, the tax courts have ruled that in some instances replacing the roof can be considered a repair if the roof still had plenty of useful life left, you were only making the replacement to restore the property to working condition (not, say, to increase it's value), and replacement was the most economical way (like fix a bunch of leaks) of doing that.However, to be conservative, I think I'm going to have to depreciate.

He recommended replacing it with two seperate electric hot water heaters (cheaper than ONE new gas water heater), and seperate the hot water between the two units.Again, similar to the electric I imagine the plumbing is already seperated between the two units to some extent, so I don't think extensive plumbing rerouting would need to occur to again relocate a hot water heater to the basement of the apartment to keep the utility seperate.

The Institute of Real Estate Management has persons and companies that are accredited through their organization who have received extensive training and I would recommend you visit their website to educate yourself on finding a good management company.

There are properties where say for instance I own 30 units and rent 10 to section 8 tenants versus owning a 50 unit building where the whole complex is strictly section 8.

For instance, is there a separate website you own/maintain that you leverage as well as being here on BP?

In a way a war zone landlord is an extension of the government having to take care of people that in many cases cannot function and take care of themselves.I do have some clients that will go 10 or 11 cap for occasional crime on the fringes but in a decent area and then some that want 7 to 8 cap for a better area.