If he stayed, you could run good tenants out or attract more illegal activity, neither is good for you as the landlord.I would only take money from the security deposit to remedy actual damage which could include odors if there are any.

Some of these tales keep getting taller and taller...for example I'm 24 and I have 600 doors and I did it with no money down...or I'm 18 and worth 1.2 million but I don't tell my friends so no one knows...or ...wait for it... 

Most of the homes here were built in the 50's and 60's but within the last 5-7 years, there have been many tear down/new build projects in the area with very large homes (3000-4000 sqft) ranging anywhere from 500,000-1.2 million.

@Jay Dewberry's suggestion looks great, but I can think of a less attractive and no doubt less expensive approach.

I'd assume the lower $570 on every apartment, due to the units being less attractive over time due to being "dated" .Do assume 8% minimum vacancy, 8% repairs, 5% capex, 8% mgmt.

How to find a property that will be attractive to tenats?

:) But kidding aside, yes the home prices are low and that was the attraction for me coming from Phoenix, but the taxes and laws here are extreme and definitely don't side with the investor.

@Kusmayadi Djunaidi  not common for PM to hold your reserves.. at least in SFR small value assets maybe for big multi million dollar commercial deals.

My long term goal for real estate is to get into business with the most luxurious real estate such as multi million dollar homes, 5 star hotels, casinos, resorts etc. 

She has the property listed for 1.2 million with 5.5 acres.