Your best bet, IMO, is to work with the university to see if you can reach a unified vision for what this parcel will be.

I have about ~40K equity in the rental and owe about $157K on the loan, but the monthly rental income only covers the mortgage payment + insurance + taxes + an additional $75 a month, which I put aside for repairs and anything that may come up.  

You can get tenants to put it in their name, but it is a length process. they need a copy of the bill, a day waiting downtown with the water company paying additional deposit to have it put in their name.

Tenant's General Responsibilities: Tenant, at Tenant's expense, must:pay any periodic, preventive, or additional extermination costs desired by Tenant, including treatment for bedbugs, unless otherwise required by law;"I would double check, but as long as you have been reasonably proactive to try and help with pest control, the tenant doesn't have the right to cancel the lease for pest issues. 

Erica,If you are interested in this property, in addition to reaching out to condo investors for advise, you should be sure to also do “proper” due diligence.

Good afternoon fellow investors,My name is Mike i am a local Buy and hold investor looking to aquire 1-2 additional properties in the next 12 months. below is the criteria of the type of properties i am searching for.- 5-20 unit multi-family apartment buildings- C- to B class areas (no war zones)-  off street parking-  distressed or turn key- all of RI and Eastern MAPlease contact me anytimeI also look to network with other local investors and enjoy bringing value to others.

Additionally, I am looking for a lender who will consider income streams under 2 years old. 

If I want to manage other brokers (have the hang their license at my company) I have to take an additional 30 hours of education.

., then foreign qualified in RI (Foreign LLCs still must have a Registered Agent).Additionally, forming an LLC in Mass. costs $500 by mail of $520 online.

Additional expenses include: $600 yearly insurance, $30 HOA, and $100 monthly management fees.