Your best bet is to not renew their lease, then match the quality of your rental to those renting for $1700, and find a new tenant.

Definitely recommend you run the numbers and a quick way to do so before you get too deep and waste alot of time is to write down this:Purchase Price Cash to Close Rent-------------------- Property Tax per monthInsurance per month HOA Mortgage Vacancy (x%) Repairs (x%) Property Mgmt (x%) Total Expenses: XThen find out your cash flow INCOME - EXPENSESCap Rate NET ANNUAL -MORTGAGE ANNUAL / PURCHASE PRICECash on Cash Return NET ANNUAL +MORTGAGE ANNUAL / PURCHASE PRICETakes like 10 to 15 mins to evaluate the numbers.

It's probably  a good deal and I'm betting there's nothing but trouble brewing in this situation for down the road.2.

FHA would be your best bet though with as little as 3.75% down for up to a four-plex acqusition.

Free to use, easy to set up, and totally automated so once you set it up the first month you don't have to touch it again (it just automatically transfers the funds from the tenant's bank account to yours).

So total out of pocket for me was $277,000 as follows:$245,000 (25% down payment)$32,000 (closing costs...mainly mortgage tax and title)And my payment is $5,804 per month with taxes.

Your best bet is to bring the bank into the conversation and make sure they're okay with what you're working on with the owner.

What is the bet way to hire public adjustor?

It will always present the tenant as totally innocent and always end with "I just don't know what to do!"

So as a 'safer' bet, we decided that using FHA loans with a 30 year-fixed would be our best option since we intend to buy and hold.