@Aaron Sims,Your question is a legal one that involves state laws and tenant rights as defined by the state where the property is located.Please seek advice from a lawyer where the property is located.

Those pieces of information definately clarified alot for me and hopefully others.

Alot of newbies to any type of business venture have cold feet because of the not knowing and stories like yours are definately an asset to the newcomer's confidence!

I want to pay cash, and avoid leverage to limit my risk, and am definately considering using a PM.

I would first define your goal with these properties.How long are you looking to hold for??

Hes Definately the man you want to listen to.

Make sure you are dealing with a broker who understands multifamily and specializes in it.If you just use a regular broker/agent that is not a specialist you can leave money on the table and get caught up in a bad deal.You need to define a good deal??

Look at the Tea Party -- whether you agree with their principles or not, you should be thrilled that a group of people had the ability (and the freedom) to come together to define a set of ideologies and promote those ideologies on a national platform.One day, the Tea Party, the Green Party, the Libertarians, the Constitutionalists or some other group of like-minded folks will grow enough of a following to rival and perhaps take control from the two major parties in this country.We should embrace and encourage that, not try to quash it by saying things like, "You're throwing your vote away."

And what defines "large?"

I am by no means a big-tme RE investor like many on BP, so I don't have a broad range of experiences to draw from.