@Nicole W. undefinedHow do I take vacancies into consideration numbers wise?

The terms are already set in the option to purchase, price, concessions, option consideration paid etc.

When we were discussing the improvements with the accountant, she stated that we should only be including the improvements done since it was made avail. to rent (several renovations were done) for depreciation considerations.

Until I can replace that cost, and I expect it to rise as I get older, I cannot quit my day job.

I'd say a deal like this should have 10% of the sale price as the down payment and the front-end loaded note can be made so that is attained and then fall into the remaining amortized period.Sell the property for what it's worth, 8% is sufficient consideration, use the amortized period to provide you wanted monthly income, you could require a higher payment to principal to increase the down payment over time as long as they can really afford it, and affording should be determined by debt-income ratios not by an opinion, especially with any inclination of getting in their pocket from any personal issue.Good luck on your getting your RE license, as you go through that process you'll see the ethical aspects of dealing in RE and what I've said here will become clearer. :)

Or, are there any financial considerations that a tenant has to look when determining if its really cheaper to move?

So my question is how do you justify investing in these types of markets and what other criteria do you take into consideration when deciding to invest in these types of markets.

If they respond to the 5 Day Summons, they must fill out considerable paperwork and bring everything they owe to put into the court registry until the court date.

Taking all of this into consideration, I'm wondering if buying is the right thing to do.

The only possible reason I could think of for not selling it now would be if you are underwater on the property or if you feel extremely confident that you'd be able to sell for considerably more in a year's time.