The seller's attorney was informed that he is not longer being retained by her client.

It will give your son a great way to cover his living costs and some experience with managing a rental property which will be very important if he moves out of the area, retains the property and needs to hire a property management company. 

Rent all 2 beds at 700 a week.700 X 50 = 35,000 month X 12= 420,000 gross income420k divided by 2 = 210,000 NOI50% costs is5% property management15% vacancy loss turnover30% operating and expensesSo based on the quick formula buying at a 10CAP going in the most I could pay is 2,100,000.Now this doesn't look at deferred CAPEX and a bunch of other items.This is a down and dirty 10 second calculation I do in my head to see if it's a possible or not to look into further.You have to really know the markets.Example current income is based off of 700 with many leases fixing to expire.A current investigation of the market shows competitor rents have decreased from 8 months ago and are now 675 a month.To retain many of the tenants on renewal all things being equal your rent rates will most likely go down along with cash flow.I could go on and on but this is how I do my quick calculation.

Some on this board have said it's a waste of time to enforce "Specific Performance" so that's why I'm anxious to know your status.And, if you (or anyone else here) know of a good and reasonably priced attorney in Florida we can retain, then that will be much appreciated.

On the other hand, it also requires the investor to listen to, read, and retain information that they're being provided.Thanks again for your questions.Joffrey

On the issue of distributed vacancy, it's true that a 4-plex can retain 3 rent income streams despite one vacancy, but the same can be true of a package of 4 SFH properties.

Abby, have you retained counsel familiar with the SEC and all state regs?

So the retain-age number on each item was low and finishing needed done.

I would do what is fair and reasonable to avoid court action or to avoid a judges backlash if you retain too much of the deposit or make her homeless.  

We would prefer to retain the current tenants and gradually increase rents.