Next time make sure you have a valid rental agreement in place that meets your needs and an accurate property condition report from the time of tenant move-in or for the later point in time when you purchased the property and took over property management.I agree with @Mark B. about precautions to take when signing leases.

Not 100% accurate, I tried my best for a newbie.

“Many world-class performers have little formal education, and have amassed their wealth through the acquisition and subsequent sale of specific knowledge,” he writes.

His history of the property that he showed me was accurate, however it wasn't the building that was for sale.

Make sure you perform your due diligence. 

I like to think it shouldn't be an issue for you especially once you have held it and can show stable performance for a few years. 

Here are the details...I am trying to get an apartment under contract in Madison Tn (10 minute drive from downtown Nashville) and the seller definitely has motivation to sale. 14 units - 10 1/1 and 4 2/1She currently only has 9 units (all 1/1) rented out and she lives in the last 1/1She states she doesn't have any of the 2/1 rented because she requires two months down to move in.Rent rolls (checked the leases and is accurate and market average)1/1 - $650 a month2/1 - $750 a monthCurrent rent roll a month - 5,850Monthly expenses..Sewer - 112Storm - 40Waste/ trash - 76NES - 90Water - 80Gardening - 50Hazard Insurance - 333Taxes - 516I used an 8% cap rate to get my offer price at 569,125Does this seem about right to everyone?

Originally I was going to flip it, but decided to keep it and it has performed for me well.

Based on promises of future action and performance, less than 5% of newbies ever follow through. 

Does anyone have any accurate idea of when the new Asset Managers will be awarded for 3.7...Specifically 2D and Central Texas?