Contact your building regs folks, complain about a dangerous building if they are not properly secured, use the "blighted area" approach, they can motivate owners to at least act.

@Maggie TasseronThere is not any state law in Florida that says you must rent to the first qualified applicant.However, it is my personal policy, and is somewhat common sense.Really interesting to hear everyone's opinions on what can easily venture into dangerous (illegal) territory with regards to 'turning down' applicants!

So there's an incentive for me to have the property paid off when I'm 45-50 years old (15 or 20 yr loan), as opposed to financing for 30 years and then not owning it outright until I'm 60 (when I can access my 401k anyways).BUT - I always hear about the dangers of negative cash flow.

As I cautioned before, betting on an FHA buyer who is unable to immediately perform can be a dangerous thing.

However, this option is dangerous if you don't have the right plan documents, you don't keep track of the contributions and account values correctly, and/or you don't make the right annual reports to IRS.

I still don't know everything but just doing a few deals has me enough knowledge to be dangerous :).

“D” Class properties are older, declining, potentially rapidly declining areas, characterized as bad/challenging neighborhoods, are older run down properties and potentially dangerous areas (war zones).

But cash flow of less than $100 per month wouldn't be worth it for me, and when you have to self manage a property in order to take it from a subpar deal to and OK deal that is dangerous territory.

I have a grid in the north east (north and east of Betty Dangers) and I take notes on all duplexes that need work.I then do some creepin and see who owns them, last sold, taxes up to date?

I'm getting dangerously close.