I wanted to do this for my son, as he is very handy,and hopefully someday if it worked out he would buy me out and keep it for himself as a pension type income(if all worked out.)The city of Reading has gone down hill over the years, but this area close to Albright College is still decent as of now.What I would like to do is rent it to college students(females) being as the boys would destroy it.

I just want to make sure I don't dump too much effort into something that has the possibility of getting destroyed by tenants.

You steal lives and destroy them and there is no consequence.You can't expect people to control their own actions based on good ethics when they are people who have no ethics at all.

You may be able to count on fairly consistent numbers similar to what was given, but you have to be prepared to have 0 or negative cash flow every now and again when a big ticket item happens like the tenant who not only needs to be evicted but destroys the apartment before he goes.

By paying above market rates you are essentially destroying the short term cash flow of the properties.Are you doing this as an equity play?

Are we saying that the logistical nightmare of owning property out of state more than destroys that additional 1.3% return?

The specific crop or crops destroyed or damaged.

Once you get in and start doing what your going to do with the property you certainly don't want an angry person destroying your progress IMHO.

What you're saying is that she has destroyed this unit.

I have found infestations by observing only a quarter inch mud tube (all that was visible at that house).Now my advice: Make any purchase contingent on a wood destroying insect inspection and hire a professional and accompany him/her during the inspection.