She's entertaining a $170K option purchase offer.She's willing to enter into separate master lease with sublet rights for $600/month.The property seriously needs cleaned up and could use a coat of paint on the exterior, but is otherwise in halfway decent shape and very structurally sound.After cleanup and residential rents, FMV should be $220K.

I am the President of a cleaning company and I thought this would be a great site to get some information.

Of course, the units have to be cleaned up.

That gives me a couple of weeks to clean, paint, carpet, and get the property ready to be rented.In the summer of 2006, it was common to have rentals stay vacant 3 or 4 months (or even longer).

The basements walls were covered with black mold and she was trying to clean it up with stuff that she bought at the Dollar Store.

Tenants rarely follow recommendations for cleaning, and as a result will use abrasive powders or scratch pads which will reduce the life of the surface.

Even if you manage the property yourself you should still include the 10% in your calculations unless you are routinely in the habit of working for free.

The best way to keep deals clean and minimize your liability is to not do deals in your name.

That all seems very nice and clean, but in reality its a dirty process, too.

what happens in this situation, is the mortgage wiped clean and you get a $100,000 property?